Exodigo, an artificial intelligence (AI) and multi-sensing technology company, has completed a $96m Series B funding round.
This latest investment brings the company's total funding to $214m since its inception in 2021.
Transportation departments and rail authorities, including Amtrak, Florida DOT, California High-Speed Rail Authority, Kansas DOT, LA Metro, and SEPTA, are already utilising Exodigo's services to locate underground utilities and avoid disruptions during construction.
The Series B round was co-led by early investors Zeev Ventures and Greenfield Partners, with contributions from existing backers 10D VC, SquarePeg, and JIBE, as well as new investors Vintage Partners and Leblon Capital.
The new capital will be channelled into expanding Exodigo's global team, accelerating the development of its underground data solutions, and entering new regional markets.
Exodigo's innovative approach to underground data intelligence is transforming how buried pipes, cables, and utility assets are mapped, promising to make infrastructure projects safer and more efficient.
The technology boasts an advanced dual AI engine, 3D visualisation capabilities, and AI agents, all integrated into a proprietary stack that includes hardware, software, and high-quality data intelligence.
Exodigo co-founder and CEO Jeremy Suard said: “Exodigo has set a new global standard for 3D underground intelligence.
“Since launching, we’ve worked closely with industry leaders to transition from the status quo of missing up to 50% of underground utilities to 99% accuracy without any digging.”
Exodigo's technology is designed to prevent damage of underground utilities during construction, which can lead to significant safety risks and financial losses.
Unlike traditional methods that rely on single sensors and visual estimates, Exodigo's platform combines AI with multi-sensor geophysical data and high-resolution 3D imaging to assess subsurface conditions.
This provides a detailed and non-intrusive view of what lies beneath the surface, thereby improving project timelines, safety, and budget adherence.
In the past year, Exodigo has mitigated risks associated with over $75bn in federal, state, and local infrastructure investments.
This includes projects for the three largest transit agencies in the US, which collectively have an annual budget of $16bn.
With the new funding, Exodigo plans to improve its research and development efforts to expedite the launch of its geotechnical risk reduction solution, as well as the ongoing development of its comprehensive underground data platform.
Story continuesGreenfield Partners partner Raz Mangel said: “Exodigo is redefining AI for geophysics in an effort to solve the underground and unlock a $500B market.
“Providing access to precise underground visibility has the potential to drive tens of billions of dollars in efficiency savings across a variety of industries and global growth centres.”
"Underground mapping firm raises $96m in Series B funding" was originally created and published by Railway Technology, a GlobalData owned brand.
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