A startup that surveyed the 50ft-deep sinkhole that opened up in Tel Aviv last month has just received a multi-million dollar investment.
Exodigo specializes in non-intrusive mapping – finding out what’s underground without the need for actual excavations. It identifies water and gas pipes, electricity cables, water sources and other buried obstacles that could cause leaks, explosions or unexpected delays.
National Grid, one of the largest utility companies in the world, invested $20 million across Exodigo and two other startups to transform the way utilities manage physical infrastructure.
The investment comes after Exodigo provided National Grid project teams with complete and precise knowledge of buried assets at its sites in New York.
National Grid Partners, its corporate venture and innovation arm, funded the investment.
“We’ve proven consistently that our technology discovers more buried utilities than any other alternative,” said Exodigo Co-Founder and CEO Jeremy Suard.
“These additional, hidden lines are often the root cause of safety issues, budget overruns, and massive schedule delays, which contribute to environmental damage and increase the carbon footprint of major infrastructure projects.
“We are excited to collaborate with National Grid, as we see them as pioneers in adopting innovative and disruptive technologies within the utility industry.”
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Dave Lessard, Engineering Manager, Innovation at National Grid, said: “Exodigo’s technology presents a significant opportunity for National Grid to improve safety, reduce cost, and increase operational efficiency on our construction projects.
“Early pilots are showing positive and promising results. The Exodigo subsurface imaging platform found all the major below grade-assets at a National Grid test site in Yaphank, NY, including some unknown lines that were not found in any existing documentation. National Grid is excited to explore this technology further across our business.”
Exodigo was founded by CEO Jeremy Suard, CPO Yogev Shifman, and CTO Ido Gonen. All three are alumni of IDF intelligence units 8200 and 81.
Much of their work is with construction, mining and utility companies in the US and in Israel, where it works on the Tel Aviv Light Rail, currently being built.
Exodigo currently employs around 70 people and has offices in Tel Aviv and California.
National Grid is based in London and operates in the Northeastern United States and in the UK.