Samsung’s venture capital arm is reportedly planning to invest in California-based medical device startup Exo in a funding round that could reach $100 million, according to Bloomberg sources.
The round is led by Sands Capital, Bold Capital, and Qubit Health Capital, with Qubit’s chairman, Imar Ishrak, expected to join Exo’s board.
Exo Innovates Handheld AI-Powered Medical Imaging Devices for Ultrasound Diagnostics
Founded in 2015, Exo develops handheld medical imaging devices that combine AI, medical imaging, and silicon technology for ultrasound exams such as lung scans and echocardiograms. The device connects to a smartphone, allowing medical professionals to scan patients, document findings, and share reports through a single app.
To date, the company has secured over $320 million in funding from investors such as RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. Its latest funding round was a $220 million Series C in 2021.
According to the report, Exo is also currently negotiating a partnership with Samsung Medison Co., a manufacturer of ultrasound diagnostic and digital X-ray devices. Additionally, this collaboration could enhance their combined expertise in medical imaging technology.
Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health did not immediately respond to requests for comment.
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