Underground Ventures
Underground Ventures, established in 2024 and based in Copenhagen, Denmark, is a venture capital firm focused on early-stage technology companies. It specializes in investing in geothermal energy technology startups, aiming to facilitate global geothermal deployments. The firm commits up to $40 million over a period of 3 to 5 years to support these innovative ventures.
Top Stages
3 past transactions
Borobotics
Seed Round in 2025
Borobotics specializes in developing innovative borehole robots designed for geothermal drilling in space-constrained environments like urban areas. Their advanced technology requires significantly less space (90% reduction), emits considerably fewer CO2 emissions (97%), and produces substantially less noise (94%) compared to conventional geothermal drills.
Hephae Energy Technology
Venture Round in 2024
Hephae Energy Technology develops an integrated drilling system that enables the safe, efficient, and cost‑effective extraction of geothermal energy. The company’s technology harnesses abundant heat resources worldwide, providing a new generation of drilling solutions that improve accuracy, safety, and productivity for geothermal wells.
GA Drilling
Venture Round in 2024
GA Drilling is a high-tech company developing and commercializing its groundbreaking PLASMABIT technology platform. This innovative solution enables significant time and cost savings compared to traditional drilling methods, opening up vast new possibilities in oil & gas, geothermal energy, mining, and tunneling.
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