Israeli Underground Scanner Startup Closes $105M Series A Funding

An Israeli startup that generates detailed 3D maps of underground utilities without the need for excavation has closed its Series A funding round with $105 million.

Tel Aviv-based Exodigo helps companies carry out construction projects by combining 3D imaging and AI technologies with GPR (ground penetrating radar) and electromagnetic sensors to give a clear picture of what’s underground.

Exodigo’s tech can identify water and gas pipes, electricity cables, water sources, and other buried obstacles that could cause leaks, explosions or unexpected delays. Actual excavations are time consuming, inaccurate, expensive, and can cause leaks, explosions, or unexpected delays.

The funding, which was co-led by Greenfield Partners and Zeev Ventures, brings to $118 million the total amount that the startup has raised since its launch in 2022. 

The startup plans on using the funding to increase depth-accuracy and precision of its scans which are already working in Israel and the US, as well as expanding into the UK, France and Italy. 

“We want to transform the entire built world and are committed to making underground exploration safer, faster, and more sustainable so our customers can design, dig and build safely with confidence. As the only subsurface imaging company to put AI-interpreted signal processing into practice, Exodigo solves a massive, long-standing problem for industries where what lies underground matters,” said Exodigo co-founder and CEO Jeremy Suard. 

“Thanks to the support of such dedicated investors and advisors, our team will be able to keep meeting increasingly complex customer needs as we dive deeper into the unknowns of the underground.”