Samsung Eyes $100M Investment in Medical Imaging Startup Exo
Samsung’s venture investment arm is reportedly in discussions to lead a $100 million funding round for Exo, a medical device startup based in California. According to a Bloomberg report citing anonymous sources, this investment would bolster Exo’s mission to revolutionize medical imaging.
The funding round is reportedly spearheaded by Sands Capital, Bold Capital, and Qubit Health Capital. The same report indicates that Imar Ishrak, chairman of Qubit, is expected to join Exo’s board of directors.
Founded in 2015, Exo is developing handheld medical imaging devices that integrate artificial intelligence, medical imaging technology, and advanced silicon to improve ultrasound examinations. These devices are designed to connect to smartphones, allowing medical professionals to scan patients, document findings, and share exam reports through a single application. This streamlined approach promises to enhance diagnostic efficiency and patient care.
To date, Exo has secured over $320 million in funding from various investors, including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. Their most recent funding round was a $220 million Series C in 2021.
In addition to the potential investment, Exo is reportedly exploring a partnership with Samsung Medison Co., a company specializing in medical devices for ultrasound diagnostics and digital X-ray systems. This collaboration could potentially lead to synergies in product development and market reach.
Neither Exo, Samsung, Sands Capital, Bold Capital, nor Qubit Health have released official statements regarding the potential investment or partnership.
