Israeli technology company Exodigo has developed specialized systems that locate and map underground pipelines, electrical lines, and other utilities without the need for excavation. The company recently secured $96 million in new funding, bringing its total valuation to between $600 and $700 million — roughly double what it was two years ago.
Exodigo’s technology is based on expertise developed by officers from elite Israeli Defense Forces intelligence units. This technology enables construction and infrastructure companies to accurately detect all critical underground utilities without digging, allowing projects to proceed faster and more cost-effectively.
The latest investment round was primarily led by the company’s existing investors, including Peter Thiel, one of the world’s most renowned venture capitalists. Notably, major US investors did not participate in this round, but they are expected to join future funding rounds.
Exodigo has expanded its operations in the United States and started offering its equipment on a rental basis to construction companies, enabling the company to reach more clients. In the near future, this equipment will include drones, additional sensors, and other devices that allow companies to independently collect underground data.
The company offers two main products: one identifies underground pipelines and cables, while the other analyzes different soil layers and materials such as clay and groundwater. These data are then processed using artificial intelligence to provide construction companies with optimized recommendations.
CEO Jeremy Suard states that Exodigo can detect 99% of underground utilities without excavation — a major breakthrough for the industry.
While the services may be costly, they are economically advantageous considering the high costs of project delays and legal issues. Exodigo’s annual revenue is estimated at $20-30 million, with plans to sign long-term contracts totaling $100 million by the end of this year.
Investor Oren Zeev adds that Exodigo’s technology has the potential to save billions of dollars in a vast market, positioning the company as a future global leader in underground mapping solutions.
