Samsung’s venture investment arm is considering a stake in California-based medical device company Exo, potentially participating in a funding round valued at up to $100 million, according to Bloomberg sources.
Leading the Round and Board Changes
The funding round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital. Omar Ishrak, chairman of Qubit Health, is expected to join Exo’s board as part of the deal.
Founded in 2015, Exo develops handheld medical imaging devices combining artificial intelligence, medical imaging, and silicon technology. These devices enable ultrasound exams such as lung scans and echocardiograms by plugging directly into smartphones. Healthcare professionals can perform scans and share reports through a dedicated app.
Funding History and Partnerships
To date, Exo has secured over $320 million in funding from prominent investors including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. Its latest major funding was a $220 million Series C round in 2021.
The company is also reportedly negotiating a partnership with Samsung Medison, Samsung’s medical device division specializing in ultrasound diagnostics and digital X-ray equipment.
Requests for comment to Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health have not yet been answered.
What The Author Thinks
Samsung’s potential investment in Exo reflects a smart alignment between cutting-edge medical imaging innovation and Samsung’s established hardware expertise. By integrating AI-powered portable ultrasound devices with Samsung’s medical division, this partnership could accelerate the adoption of more accessible, affordable diagnostic tools. It also highlights how tech giants are increasingly betting on health tech as a key growth sector.
Featured image credit: Agenzia Nova
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