Exodigo Secures $105 Million Series A Funding to Enhance Underground Mapping Solutions

Exodigo Secures $105 Million Series A Funding to Enhance Underground Mapping Solutions

Exodigo, an AI-driven underground mapping solutions provider based in Tel Aviv, Israel, and Palo Alto, California, has successfully closed a Series A funding round, raising an impressive $105 million. This funding, led by Greenfield Partners and Zeev Ventures, along with existing investors SquarePeg, 10D VC, JIBE, and National Grid Partners, marks a significant milestone for the company.

The company, spearheaded by CEO Jeremy Suard, aims to utilize these funds to bolster its global team, expedite the development of a self-service product line, and facilitate expansion into new markets. With a focus on delivering accurate and efficient solutions for mapping the underground, Exodigo combines multi-sensing technology with proprietary AI algorithms. This enables leaders in transportation, energy, utilities, and construction to navigate subsurface challenges with confidence.

Jeremy Suard expressed his gratitude for the support, stating, “Some companies crawl before they can walk, but we’ve been sprinting consistently since day one and have no plans to stop the race.”

Exodigo’s innovative approach has garnered attention from industry leaders globally. Its clientele includes renowned organizations such as AECOM, Colas Rail, GRDF, HNTB, and Houston METRO, among others. By providing precise subsurface intelligence, Exodigo empowers its customers to design, dig, and build infrastructure projects with reduced risks and increased efficiency.

The company’s efforts come at a crucial time, as the Common Ground Alliance estimates annual costs exceeding $30 billion due to utility strikes in the United States alone. Moreover, with nearly half of global CO2 emissions stemming from the built environment, addressing underground challenges has become both an economic and environmental imperative.

Recognizing Exodigo’s transformative potential, Raz Mangel of Greenfield Partners commented, “The company operates with a unique intensity, leading to incredible market and product velocity.”

Exodigo’s platform, which integrates various sensors, 3D imaging, and cloud computing simulations, offers a comprehensive view of underground assets and hazards. By minimizing the need for preliminary digging and drilling, Exodigo significantly reduces project timelines and costs, benefiting both businesses and the environment.

Looking ahead, Exodigo plans to deepen its presence in key markets across Europe while exploring opportunities for further innovation and collaboration. With a seasoned team of investors and advisors, including Raz Mangel and Oren Zeev, Exodigo is poised to revolutionize underground mapping on a global scale.

As Jeremy Suard emphasized, “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.”

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