Samsung Eyes $100M Investment in Medical Imaging Startup Exo

Samsung Eyes Investment in Medical Device Firm Exo

Samsung’s corporate venture capital arm is reportedly considering an investment in Exo, a medical device startup located in California.

Sources familiar with the matter, as reported by Bloomberg, indicate the potential investment could reach $100 million.

Investment Round Details

The funding round is being spearheaded by Sands Capital, Bold Capital, and Qubit Health Capital.

Furthermore, Omar Ishrak, chairman of Qubit Health, is anticipated to take a seat on Exo’s board of directors.

About Exo and its Technology

Established in 2015, Exo specializes in the development of portable medical imaging solutions.

These devices integrate artificial intelligence, advanced medical imaging techniques, and silicon technology to perform ultrasound examinations, including lung scans and echocardiograms.

A key feature of Exo’s technology is its compatibility with smartphones; the device connects directly to a smartphone for scanning and report sharing via a dedicated application.

Previous Funding and Investors

To date, Exo has secured over $320 million in funding from a diverse group of investors.

Notable investors include RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners.

The company’s most recent significant funding event was a $220 million Series C round completed in 2021.

Potential Partnership with Samsung Medison

Discussions are also underway regarding a potential collaboration between Exo and Samsung Medison Co.

Samsung Medison is a division of Samsung focused on the production of medical devices for ultrasound diagnostics and digital X-ray systems.

No Comment from Involved Parties

Requests for official statements from Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health Capital have not yet been answered.

The companies did not immediately respond to inquiries regarding the reported investment and potential partnership.