Wednesday, April 17, 2024
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Exodigo Closes $105 Million Series A Funding

Exodigo, the artificial intelligence innovator modernizing underground mapping, today announced the close of a $105 million Series A round, converting $30 million previously secured in SAFEs, for a total of $118 million in funding since its launch in 2022. Greenfield Partners and existing investor Zeev Ventures co-led the Series A with participation from existing investors SquarePeg, 10D VC, JIBE and National Grid Partners.

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Exodigo continues to lead a complete reinvention of 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.

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“Exodigo is one of those rare companies that has managed to revolutionize a large market that is difficult to innovate in, by combining breakthroughs on both the software and hardware side in order to create unparalleled technology for non-intrusive underground mapping,” said Raz Mangel, Partner, Greenfield Partners. “The company operates with a unique intensity, leading to incredible market and product velocity. We’re thrilled to partner with Jeremy and the entire Exodigo team to play a part in the next phase of their global expansion as the company makes underground mapping and exploration a reality for the mass market.”

“Exodigo has taken the underground mapping market by storm and established its platform as the gold standard in comprehensive underground intelligence in just two short years. There was absolutely no question that I would want to double down on my investment based on the overwhelming demand it has been able to rally from top leaders across the utility, transportation and infrastructure communities,” said Oren Zeev, Founding Partner, Zeev Ventures. “Exodigo helps companies see risks underground; meanwhile, I see no ceiling to the potential for Exodigo as it continues to unearth enormous opportunities for growth by expanding its solution offerings and proving its value across new markets.”

Timed with the investment, Raz Mangel, Greenfield Partners, and Philippe Schwartz, SquarePeg, will join Oren Zeev, Zeev Ventures, and Yahal Zilka, 10D, on the Board of Directors. Exodigo’s Advisory Board includes internationally recognized leaders, including Danny Glotter, Barak Kirschner, Peter Rogoff, Michael Schneider, Lou Shipley, and Simon Wright.

About Exodigo

Founded in 2021, Exodigo is the leading underground mapping solution for non-intrusive discovery. Our platforms combine multi-sensor fusion, 3D imaging, and AI technologies to create complete, accurate underground maps that enable confident decision-making for customers across the built world. We transform the project lifecycle for our customers, who include key community stakeholders in the utilities, transportation, and government sectors.

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