This exploratory project aims at taking the first steps to develop a robust scientific platform for the volumetric characterization of underwater cave environments, to aid in the exploration, survey, and conservation of groundwater resources. To achieve such an ambitious goal, this exploratory project aims at developing a proof-of-concept laboratory accelerator prototype for real-time generation of 3D models from underwater cave footage and sensor data. To do so, it relies on a multi-disciplinary collaboration between academic partners and a national Non-Governmental Organization (NGO), that will undertake this challenge in three distinct fronts: 1) investigation of new techniques to enable the use of new VI-SLAM algorithms in underwater cave environments; 2) design and implementation of an FPGA-based accelerator prototype for real-time 3D reconstruction based on multi-camera/IMU sensor setups; 3) creation of a repository of underwater cave image sequences and sensor data obtained by specialized cave divers in the flooded karst networks of the MCE, to be used both as input data for algorithmic and prototype development. The outcomes of this exploratory project will be used as the base for the proposal of a subsequent project that will undertake the more ambitious challenge of developing a submersible device and fully functional underwater cave characterization framework.