TLDR
Sydney-based Trendspek has closed an A$6 million round led by OIF Ventures to expand into North America and Europe. The drone and 3D inspection platform, founded by three former Qantas pilots, reports 165 per cent compound annual revenue growth over three years and more than 860 customer organisations.
The raise
Trendspek, the Sydney-based asset inspection software company founded by three former Qantas pilots, has closed an A$6 million funding round led by OIF Ventures.[1] Proceeds are earmarked for market entry into North America and Europe, alongside the company's AI-driven defect detection roadmap.
OIF Ventures investor Oliver Darwin said the dataset itself was the defensible asset. "Trendspek has built the condition layer that owners of some of the world's most critical assets now rely on, and the dataset behind it compounds with every inspection. These assets are getting older and more complex, while the tools used to manage them have stood still," Darwin said.[1]
What the company does
Trendspek was founded in 2019 by Derek Feebrey, Fiona Church and Mitch Deam, all former Qantas pilots who moved into the infrastructure inspection market.[1] The platform ingests drone and photographic data to build persistent 3D models of physical assets. Engineers use them to track structural condition and flag defects without sending people onto high-risk structures.
Vocus Underground and METS Solutions Team Lead Mark Gasseling said the platform had cut out work that previously required physical access. "We've seen three key improvements from using Trendspek's 3D platform: we're working more efficiently, we're saving money on travel and resources, and we've removed high-risk activity that a drone can now handle instead," Gasseling said.[1]
NSW Ports now conducts jetty inspections at roughly a third of their previous cost using the platform, according to Trendspek's own release. Bushletter could not independently verify that figure.[1]
Growth and scale
Revenue from critical infrastructure customers has grown at a compound annual rate of 165 per cent over the past three years, according to the company.[1] More than 860 organisations now use the platform to access over 1,700 sites digitally. The company counts 128,000 virtual site visits to date.
Chief Executive Derek Feebrey said the problem his company addresses is a condition data gap, not a shortage of inspection activity. "Most asset owners we meet are not short of inspection data. They are short of a reliable picture of what they own, what condition it is in and what is changing. There is not enough capital to rebuild ageing infrastructure and not enough engineers to inspect it the way we always have, so the job now is getting more life out of what is already there. That only works if the condition record is accurate and it holds up over time," Feebrey said.[1]
The backdrop gives that framing some grounding. The Global Infrastructure Hub estimated a US$15 trillion global infrastructure investment shortfall by 2040.[2] Domestically, Infrastructure Australia estimated a shortage of 141,000 workers on public infrastructure projects as of October 2025. That capacity gap makes remote inspection more attractive to asset owners with stretched budgets.[3]
History and backing
This round follows an A$6.3 million Series A closed in December 2022, led by Taronga Ventures and IAG.[4] Trendspek has now raised just over A$12 million in equity since its founding seven years ago. It has not disclosed a post-money valuation for either round.
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Vikram Singh writes about banking. He follows where money actually moves, from the strategy set in head office to what changes on a customer's phone.
