See the exclusive 22-slide pitch deck that AI company 4M Analytics used to raise $45 million in Series A funding
Summary
This 22-slide pitch demonstrates its subsurface mapping capabilities to aid construction projects.4M Analytics, which uses technology and resources like artificial intelligence, satellite imagery and records to locate underground utility infrastructure, has raised a total of more than $45 million in Series A funding.Founded in 2019 by Itzik Malka, Yoav Cohen, and Nir Cohen, the company said it has raised a total of $45.5 million over the course of multiple funding rounds. Those investors also joined this recent Series A extension round, along with executives including Noam Bardin, the former CEO of Waze, the Google-owned road traffic-navigation app, and Nir Erez, the CEO of Moovit, the transit app that Intel acquired in 2020.The startups CEO Itzik Malka told Insider that 4M Analytics came from an older project that had originally focused on building a multi-source data engine using remote sensing and satellite imagery the purpose then was to locate buried landmines and other explosive devices from post-conflict zones, he said.Although the idea was received well when he presented it to a UN agency in 2019, raising capital proved to be a challenge as prospective investors balked at a venture they perceived as risky, Malka said.So the three co-founders pivoted to focus on subsurface utility engineering the lucrative, but fragmented $40 billion world dealing with the location of underground utilities. 4M Analytics deployed its artificial intelligence technology to build a map of underground utilities like oil and gas pipelines, fiber optic cables, water and drainage systems, and electricity infrastructure. "We saw the market of subsurface utility engineering and the manually intensive processes of creating maps," Malka said. "4M Analytics technology to create these underground maps does not use sensors it uses just satellite imagery, records, and a data engine to identify utility infrastructure underground, according to the company.The companys customer base is primarily in the transportation, oil and gas, water and electricity sectors, among others.