Niricson sets up Oceania HQ in Australia with equity support from Victorian Government

Canadian tech startup Niricson has set up its Oceania headquarters in the Melbourne CBD. It is aiming to create 50 highly skilled jobs over five years, with immediate recruitment of operations and business development staff. This move will strengthen the technological capabilities of Victoria’s infrastructure assessment ecosystem.

The investment was the first by the Victorian Government’s Equity Investment Attraction Fund. The Fund makes direct equity investments in high-growth companies of strategic interest to Victoria, which are looking to scale up their business.

‘With multiple projects already underway in Melbourne, this funding from the Victorian Government is ideal for us to accelerate our growth in the region and the rest of Australia,’ says Niricson’s Co-founder and CEO Harsh Rathod.

Digitising infrastructure inspections

Founded in 2020, Niricson’s smart software helps infrastructure owners inspect, manage and predict the condition and performance of their infrastructure.

Its DRONIC™ and AUTOSPEX™ technologies combines robotics, computer vision and acoustic technology to assess damage on large-scale infrastructure like dams, bridges and airfields. This digitises and automates the inspection of critical infrastructure. The resulting data and actionable insights help customers improve safety and risk management.

In August 2023, Niricson announced it had raised over CAD$10 million in Series A funding.

A market ready for digital infrastructure assessments

Niricson has been doing business in Australia since 2022. In Victoria, Niricson and Arcadis will be working with the Victorian Department of Transport and Planning to assess and create a baseline condition model of the iconic San Remo Bridge.

Through data collection and analysis using Niricson’s proprietary AI technology, comprehensive insights will show the structural condition of the bridge. This will help builders ensure the long-term safety and durability of the bridge between mainland Victoria and Phillip Island.

In addition to San Remo, Niricson has completed or has ongoing projects with WaterNSW, Melbourne Water and other civil infrastructure owners in the country.

Niricson found Australia – and Victoria specifically – to be a market that is reliable, innovative and ready for digital infrastructure assessments.

Australia’s tech sector workforce was another drawcard. One in 16 Australians work in the sector. Universities and research institutions are training the next generation of workers, offering courses in artificial intelligence and autonomous systems to remote sensors and cyber security.

‘Our Oceania HQ in Melbourne will allow us to hire and retain some of the best people in the region to support our growth,’ says Rathod.

Australia’s booming digital technology industry

Australia’s A$167 billion tech industry is one of the largest in the Southern Hemisphere. The country is investing in digital infrastructure – including the National Broadband Network, 5G operational bases, cybersecurity, AI and quantum – to ensure the tech industry can meet its goal of contributing A$250 billion to GDP by the end of the decade.

Find out more about investment opportunities in Australia’s digital technology sector.

How Austrade helped

Austrade was instrumental in introducing Niricson to the relevant networks in Australia, and ensuring Niricson understood the landscape and opportunities available for enterprises looking to enter the Australian market. Austrade was also critical in providing Niricson with a strong competitive position for digital infrastructure condition assessments in the Australian market.