Exodigo management (Exodigo)
After losing one of its own in the Iron Swords War against the terrorist group Hamas, Exodigo, an Israeli startup that has developed a 3D imaging, sensors and AI subterranean mapping platform, closed a $105 million Series A round of funding led by Greenfield Partners and existing investor Zeev Ventures. The company has raised a total of $118 million in funding since its launch in 2022. Exodigo says that it is reinventing underground mapping and plans to use the new capital to further build out its global team, accelerate the development of a self-service product line, and support its expansion into new markets.
The raise shows that Israel Startup Nation continues to move forward in spite of the ongoing war in Gaza, a war in which many members of its high-tech sector have been away from their firms fighting in Gaza.
The war has touched all Israelis, with every single one either having a friend or family member killed or wounded in the fighting or the October 7th massacre or has a friend who lost someone. And this includes the entire team at Exodigo who lost an employee in Gaza.
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“We would like to commemorate Israel hero, Amit Shahar, who fell during reserve service in Gaza while serving as a fighter in the Yahalom unit [IDF special forces],” said the company. “Amit was a friend and part of the Exodigo employees. He was a wonderful person. It is very important to us, as friends and as an organization, that he will remain a part of us even at this moment.”
Founded by CEO Jeremy Suard, CPO Yogev Shifman, and CTO Ido Gonen, Exodigo is a technology innovator combining the power of proprietary advances in 3D imaging, sensors and artificial intelligence (AI). The company’s founders are all alumni of IDF intelligence units 8200 and 81 and they only just completed their military service a few years ago.
The company currently employs 120 people.
Exodigo boasts that it can rapidly create a digital geolocated, 3D map of buried assets – from man-made pipes and cables to soil layers, rocks, minerals, and even groundwater across any terrain. In its first live demonstration, Exodigo proved its ability to safely and accurately identify underground utilities, abandoned lines, and ground layers in a remote, unmapped area.
With more than 20 million miles of buried pipelines, cables and wires, the Common Ground Alliance (CGA) estimates more than $30 billion in costs due to hundreds of thousands of utility strikes each year across the United States alone and Exodigo calculates that companies spend more than $100B each year on unnecessary, and heavy-equipment-dependent, excavation and exploratory drilling. Meanwhile, the built environment constitutes almost half of the annual global CO2 emissions, making solving the underground both an economic and environmental priority.
“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,” said Jeremy Suard, Co-Founder and CEO of Exodigo. “As the only subsurface imaging company to put AI-interpreted signal processing into practice, Exodigo solves a massive, longstanding problem for industries where what lies underground matters.”
