Israeli subsurface imaging startup, Exodigo, announced on Thursday that it had secured $29 million in seed funding and that its proprietary non-intrusive subterranean mapping platform for construction, mining, and utility companies is now commercially available in both Israel and the United States.
The round was led by investment firms, Zeev Ventures,10D Ventures, SquarePeg Capital, JIBE Ventures, alongside participation from Israeli construction companies Tidhar Construction and Israel Canada, and real estate company WXG Ltd.
Exodigo plans to use its new capital to accelerate its expansion to include a California-based team to help support its commercial rollout in the US. 10D Ventures managing partner, Yahal Zilka, and head of Zeev Ventures, Oren Zeev, joined the Board of Directors to help expedite Exodigo’s market penetration via their industry network connections.
Founded in 2021, Exodigo’s drone sensors create digital 3D maps of underground space across any kind of terrain that can reveal buried and potentially obtrusive objects whether it be natural or existing infrastructure that could otherwise hinder development projects down the line with inconvenient and expensive delays.
“Think of it like combining the scanning power of an MRI, CT scan, and ultrasound all into one image of what is beneath the ground,” said Jeremy Suard, co-founder and CEO of Exodigo.
Doing so informs better business decisions and allows companies to avoid spending millions of dollars each year on exploratory excavations and repairing accidental damages to pipelines, which the Common Ground Alliance estimated in an analysis report at $30 billion in 2020 alone.
Following Exodigo’s first live demonstration showcasing the system’s ability to identify underground utilities, abandoned lines, and potentially troublesome ground layers, the startup will commence pilot projects in California, Florida, and Texas in the weeks ahead.
“Our powerful combination of advanced sensor technologies and proprietary AI platform provides users with a safe, fast way to get a complete view of what lies beneath the surface with unprecedented precision,” said Suard. Ending the era of blind digs, Exodigo gives companies an accurate, easy-to-understand map of what lies beneath the surface—empowering their teams to save time, money, and lives.”
“Traditional underground discovery techniques are grossly outdated and incredibly inaccurate. Exodigo is the future of underground mapping,” said Gil Geva, CEO of Tidhar Construction. “Exodigo will solve costly, and at times devastatingly catastrophic, problems that have plagued developers and engineers for decades.”