Some of the biggest names in construction tech have participated in past editions of Construction Startup Competition! This competition propels startups into the spotlight, giving them visibility and recognition among the top Contech players in the industry.
We’re bringing you one of the epic success story from Construction Startup Competition 2022 winner Exodigo: a Tel Aviv & San Jose-based startup who’s revolutionizing excavation in construction.
Keep scrolling to see how Exodigo has grown its footprint, raised funding, and successfully carried out its mission to power the next era of underground exploration.
Table of contents
Exodigo’s history & solution
History
Exodigo is a successful startup in the Contech sector, but like all startups, it had to start from somewhere. Here’s a quick recap of its journey thus far:
2021: Exodigo was founded in Tel Aviv, Israel, under the values of trust, scale, precision & sustainability.
2022: In February, two significant milestones took place! Exodigo raised seed funding & launched its first commercial operations in the United States. Now, it has its headquarters in Tel Aviv & San Jose, CA.
In October, Exodigo received a strategic investment from National Grind Partners, as part of its commitment to fighting climate change & was named one of the winners of Construction Startup Competition 2022. Finally, as the final touch to this year, Exodigo earned the distinction of being one of TIME Magazine’s Best Inventions of 2022. A year full of action!
2023: Exodigo began its expansion into the European continent & and was selected as one of the Top 50 startups of 2023 by Cemex Ventures. In November it was listed as one of the Most Promising Tech Companies in the World by CB Insights.
2024: The San Jose-based startup secured a significant strategic investment & obtained funding from the U.S. Department of Energy earlier in the year. (Read until the end for the unveiling of their 9-figure investment round!)
Innovative solution
Exodigo is transforming excavation in construction using artificial intelligence and 3D imaging. Their multisensory technology allows for the creation of precise images of underground conditions without the need to disturb the earth during construction projects. This ensures safer conditions for workers, eliminates the need for excavation, reduces costs for companies, and enhances sustainability by preventing environmental damage.
Construction Startup Competition 2022 aftermath
Crowned as one of the winning startups in the competition’s Enhanced Productivity category, Exodigo’s team has experienced notable advantages that have contributed to their goal attainment.
Networking & piloting
The Israeli startup built strong relationships with industry leaders such as VINCI, Ferrovial, & Dysruptek by Haskell, who were competition partners in the 2022 edition. As a result of these connections, Exodigo conducted pilots with VINCI Group’s Leonard & Ferrovial:
Pilot with VINCI Group’s Leonard
In 2023, Exodigo partnered with VINCI & GRDF to address a significant challenge in France. The country’s regulations mandate precise utility locations before construction begins. However, construction companies’ reliance on outdated utility records for their location has resulted in thousands of gas line damages across multiple sites during excavation.
The pilot project aimed to assess Exodigo’s solution for accurately mapping underground assets, providing a reliable alternative to traditional methods such as excavation, and improving safety, budgeting, and compliance in construction.
The result? Exodigo’s solution found 57% more underground utilities than what the existing records showed.
Pilot with Ferrovial
Exodigo played a crucial role in Ferrovial’s Wastewater treatment project by leveraging its multi-sensing fusion and AI technology to craft precise underground maps of a brownfield site in Texas. This collaboration enabled Ferrovial to accurately comprehend the locations of subsurface assets and hazards. These detailed maps guided Ferrovial’s subsequent planning, ensuring the efficient execution of the facility’s expansion.
Expansion & strategic investments
Following its participation in Construction Startup Competition, Exodigo successfully achieved the principal objective for which it applied: expanding its presence in the United States & beyond. Between 2022 and 2024, Exodigo expanded its presence in Europe by entering markets in the United Kingdom & France, significantly increasing its team.
In the 1st quarter of 2024, success has not stopped: Exodigo announced a US$105M Series A Round & won ARPA-E funding from the U.S. Department of Energy to improve America’s aging power grid by developing cost-effective, high-speed, & safe undergrounding technologies.
Exodigo’s insights
Wondering what Exodigo’s experience was like at Construction Startup Competition 2022? Here’s a firsthand insight:
“Being a part of the Cemex Ventures program was a great opportunity for our growing startup. We were able to engage with some top companies in the industry and have since done projects with both Ferrovial and VINCI, who we met through the program. Since finishing the program, we have also closed a historically large Series A Round, launched in the UK and France, nearly doubled the size of our team, and won a grant from the U.S. Department of Energy. We are confident that the rest of 2024 and beyond will bring more success for us!” – Bret Simon, Utilities Partnerships Lead at Exodigo
Why you should apply to Construction Startup Competition?
If you want to scale exponentially & take your startup to the next level, apply to Construction Startup Competition 2024 and reap the benefits:
- Expand your network by joining the biggest ecosystem in the construction industry, made up of 5000+ startups and 300+ investors & corporate partners.
- Selected winners will receive cash prizes. By applying, you’ll also be eligible to receive strategic investment.
- Gain visibility and start conversations to pilot & test your solution in real markets anywhere in the world.
- Pitch your solution to executive representatives of the competition partners on the biggest stage for construction investors at Pitch Day 2024.
