Samsung Explores $100 Million Investment in Medical Imaging Startup Exo
Samsung's venture capital unit is reportedly considering a significant investment in Exo, a California-based medical imaging startup. According to Bloomberg, the investment could reach $100 million as part of a larger funding round.
This potential investment round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital. Bloomberg also suggests that Imar Ishrak, chairman of Qubit Health Capital, may join Exo's board.
Exo's Innovative Handheld Ultrasound Devices
Founded in 2015, Exo develops portable ultrasound devices leveraging artificial intelligence, advanced imaging technology, and silicon technology. These handheld devices connect to smartphones, enabling medical professionals to conduct examinations, document findings, and share reports seamlessly through a dedicated app. Examples of possible uses include lung scans and echocardiograms.
Exo has an impressive funding history, having raised over $320 million to date. Previous investors include RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company's most recent funding round, a Series C, secured $220 million in 2021.
Potential Partnership with Samsung Medison
Beyond the investment, Bloomberg reports that Exo is also discussing a potential partnership with Samsung Medison Co. Samsung Medison specializes in medical devices for ultrasound diagnostics and digital X-ray systems. Such a partnership could significantly expand Exo's reach and market penetration.
As of the latest reports, Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health have not yet commented publicly on these developments.
Source: Bloomberg
Previous Funding: TechCrunch
