Portfolio Company Update: EarthGrid PBC

D3VC Investment: August 2024 | Netcapital Raise: $3.3M (part of $30M seed round)

Since our investment in EarthGrid, the company has continued to validate our thesis: that breakthrough infrastructure companies can deliver both massive financial potential and transformative impact. Here’s what’s new: 

Major Technical Milestone: Tunnel Boring Robot (TBR)
Last month, EarthGrid hit a critical engineering milestone by successfully testing the final core subsystem of its Tunnel Boring Robot—the continuous solid-state spoils removal system. After over a year of simulations on high-performance computing systems and seven physical iterations, the breakthrough system—with no moving parts—passed testing in April 2025.

Why it matters: This innovation dramatically reduces mechanical complexity, boosts reliability, and reinforces EarthGrid’s ability to outcompete traditional boring methods. With this last subsystem in place, the team is now integrating it into the full TBR system.

Next step: Field testing begins this fall near Fresno, CA, boring tunnels 1 meter in diameter.
Commercialization of the TBR is expected in 2026.

 $18B Joint Venture with EnerTech (KIA)
As previously shared, EarthGrid partnered with EnerTech, a Kuwait Investment Authority (KIA) entity, to deploy $18 billion in underground infrastructure projects in four phases, starting in the U.S. and expanding globally.

Timeline Update:

• 2025: Focused on signing contracts for U.S.-based JV projects.
• 2026: Revenue expected to begin as projects move into deployment.
• A Commercialization Round is in the works to accelerate progress on the JV and unlock capital sooner.
  

This JV positions EarthGrid to become a keystone player in solving grid congestion, deploying clean energy, and modernizing critical infrastructure with unmatched speed and efficiency.

Global Recognition: Startup World Cup Winner
EarthGrid won the $1M Grand Prize at the 2024 Startup World Cup, beating out 1,000+ startups globally. The win signals high confidence from global investors in EarthGrid’s long-term vision and team execution.

Strategic Regulatory Moat
With telecom utility status in 46 states, EarthGrid is uniquely positioned to build and operate high-speed broadband and utility corridors beneath public roadways—creating multiple monetization pathways from fiber, power, and robotic freight.

 Why It Matters to D3VC
Our AI identified EarthGrid as an outlier early—combining hard tech, clean infrastructure, regulatory edge, and commercial ambition. The company’s rapid technical progress and global momentum continue to validate our data-driven investment process.

We believe EarthGrid is not just building tunnels—they’re building the infrastructure backbone for the 21st century.