AI Innovation: Exodigo Secures $96M to Eliminate Blind Underground Excavation

A new force is emerging in the world of construction and infrastructure, as underground mapping company Exodigo announced it has raised an additional $96 million in a Series B funding round.[1][2] This significant capital injection brings the Israeli-based startup's total funding to $214 million since its inception in 2021, with an estimated valuation soaring to around $700 million.[1][2][3][4] The round was co-led by existing investors Zeev Ventures and Greenfield Partners, with participation from other current backers including 10D VC, SquarePeg, and JIBE, as well as new investors Vintage Partners and Leblon Capital.[2][5] This fresh funding will be used to expand Exodigo's global team, accelerate the development of its underground data solutions, and penetrate new regional markets.[1] The company's rapid growth and substantial backing underscore the increasing importance of artificial intelligence in solving one of the oldest and most persistent challenges in the building industry: accurately knowing what lies beneath the ground.

At the heart of Exodigo's innovative approach is a powerful combination of multi-sensor technology, 3D imaging, and a proprietary AI platform.[6][7] Instead of relying on single-sensor methods and often outdated utility records, Exodigo employs a cart-based system that scans the ground using a variety of sensors, including ground-penetrating radar (GPR), magnetic gradiometers, and electromagnetics.[8][9][10] This multi-faceted data collection, which can amount to over 500 gigabytes per acre, is then uploaded to the cloud and processed by the company's AI algorithms.[9][11] The AI analyzes the fused sensor data to create a comprehensive and highly accurate 3D map of the subsurface, identifying everything from pipes and cables to soil layers and groundwater.[12][8] This non-intrusive method has been shown to identify 20-30% more utility lines than traditional premium locators and can reduce the need for exploratory digging by up to 90%.[11] The result is a dramatic increase in accuracy, with Exodigo claiming to move from an industry standard where up to 50% of underground utilities are missed to 99% accuracy without any digging.[1]

The implications of this technology for the construction, transportation, and utility sectors are profound. The industry spends over $100 billion annually on unnecessary and often risky excavation to identify what lies underground.[5][9] Inaccurate or incomplete subsurface information is a primary cause of project delays, budget overruns, and dangerous accidents, such as striking gas lines or electrical cables.[13][9] By providing a clear and reliable picture of the underground, Exodigo's platform helps to de-risk major infrastructure projects.[5] The company has already been deployed on projects worth over $75 billion across 18 countries, working with major clients like Amtrak, the California High-Speed Rail Authority, National Grid, and Pacific Gas & Electric.[2][3] These organizations are using Exodigo's technology to avoid costly utility strikes, optimize project designs, and ensure the safety of their workers and the public.[1][14]

The recent funding round will allow Exodigo to further enhance its technological capabilities and expand its market reach. The company plans to invest heavily in research and development, with a particular focus on creating a new geotechnical risk reduction product.[5] This new offering will leverage multiple sensors and AI algorithms to provide detailed insights into soil properties, rock formations, and groundwater levels, further informing engineering design and construction planning.[5] With a rapidly growing team that has already doubled to over 400 employees, and a strong presence in major US cities like New York, Los Angeles, and Chicago, Exodigo is poised to capture a significant share of a market estimated to be worth $500 billion.[2][5][15] The company's founders, CEO Jeremy Suard and CTO Ido Gonen, both veterans of elite Israeli military technology units, are leveraging their expertise in signal processing and AI to build what they hope will become the new global standard for 3D underground intelligence.[2][4]

In conclusion, Exodigo's successful $96 million funding round is a testament to the transformative power of AI in addressing long-standing industry challenges. By offering a non-intrusive, highly accurate, and efficient solution to the problem of underground mapping, the company is not only positioned for significant financial growth but is also set to play a crucial role in making infrastructure development safer, more cost-effective, and more sustainable. As urbanization and infrastructure investment continue to grow globally, the demand for precise subsurface intelligence will only increase.[16][17] Exodigo, with its cutting-edge AI platform and strong investor backing, is well-equipped to meet this demand and solidify its position as a leader in the burgeoning field of underground technology.