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Exodigo Raises $29 Million In Seed Funding From Investors like Zeev Ventures

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Exodigo is an Israeli business that has created a non-intrusive subsurface mapping platform for construction, mining, and utility firms.

Recently Exodigo disclosed that it has raised $29 million in Seed funding from investors including SquarePeg Capital, JIBE Ventures, and Zeev Ventures, Strategic market leaders WXG Ltd., Israel Canada, and Tidhar Construction also took part in the round.

The company’s CEO, Jeremy Suard, CPO, Yogev Shifman, and CTO, Ido Gonen, founded Exodigo. All three of them recently completed their military service and are recent graduates of IDF intelligence units 8200 and 81.

“They have been planning to start a business for a while, but they kept delaying their release from the military since they found it tough to leave. They ultimately made the decision to leave their position in January 2021.

They were under a lot of pressure to stay in the military, but they knew they wanted to try something different. As a result, they were successful in hiring brilliant people, many of whom they had met while serving, according to the three co-founders.

For their contributions to key military undertakings, the three received decorations while they were serving. “For many, the rush of starting a business is quite comparable to the rush they experienced in the military.

They didn’t want to concentrate on cybersecurity; instead, they wanted to use the tools they possessed to solve a real problem. In their idealized scenario, their business would deploy drones to Mars to look for water.

Exodigo calculates that more than $100 billion is spent a year on pointless drilling and excavation to learn what is underground in an effort to prevent running into gas pipelines, water sources, oil, and other possible hazards concealed beneath the surface.

Constant usage of heavy machinery results in needless greenhouse gas emissions, billions of dollars in annual waste, environmental harm, and potentially fatal spills and explosions.

The Common Ground Alliance, for instance, calculates that annual societal expenses associated with damage to vital subsurface infrastructure in the United States amount to $30 billion.

The Exodigo sensor system is mobile and can be transported by tiny carts or drones. It does this by reducing the risks associated with the discovery process in a variety of industries.

“They completed it in five days and told investors they were raising a Seed round, which is effectively a Series A round,” they continued. “Before they even established a company, they hired 15 individuals. When they approached Yahel Zilka of 10D Ventures, he gave them $5 million to start this round.

Exodigo can easily create a digitally geolocated, three-dimensional map of any terrain’s subsurface assets, including man-made pipes and cables as well as soil layers, rocks, minerals, and even groundwater. Exodigo announced that it would soon begin pilot programs in Texas, Florida, and California.

The business intends to use the money to hasten its expansion, with a particular emphasis on assembling a team in California to assist with the American market’s commercial launch.

Exodigo delivers accurate and full data faster than alternative options thanks to its next-generation noninvasive subsurface imaging, according to Asaf Touchmair, owner and board chairman of Israel Canada.

Exodigo can assist organizations in avoiding unanticipated outcomes like as spills, explosions, and lost time incidents, which cost millions of dollars annually.

About Exodigo

Exodigo provides construction, mining, and utility businesses with a better approach to understanding exactly what is underground by setting a new benchmark for nonintrusive discovery.

Businesses may acquire a clear view of the underground before starting design, building, or resource excavation with the help of its subsurface mapping system.

Modern sensors, 3D imaging, and AI technology are combined. Exodigo, an Israeli intelligence company with headquarters in Tel Aviv, is run by a team with unmatched expertise in AI and signal-to-process and is backed by leading business partners.

Exodigo, a non-intrusive subsurface imaging tool, provides a georeferenced, three-dimensional digital map of buried assets. They utilize a combination of artificial intelligence and multi-sensor fusion to speed up mapping while lowering damage and expense from pointless excavation.

Any hidden object at any scale or terrain, including man-made pipes and cables, soil layers, rocks, minerals, and even groundwater, can be found using this technology, whether it is in densely populated urban areas or vast rural ones.

Faq’s

Where is the headquarters of Exodigo located?

Israeli

How much has Exodigo raised in seed funding?

$29M

Who took the lead in the Exodigo fundraising round?

10D Ventures as well as Zeev Ventures.

Who is Exodigo’s CEO?

Jeremy Suard

Exodigo was founded by which alumni?

IDF intelligence, Military service.

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