Samsung Venture Unit Eyes Investment in Medical Device Startup Exo
Samsung’s venture investment arm is reportedly in talks to invest in Exo, a California-based medical device startup. The investment round, which could reach up to $100 million, is being led by Sands Capital, Bold Capital, and Qubit Health Capital. According to Bloomberg, Exo’s board may soon welcome Imar Ishrak, chairman of Qubit Health Capital.
Revolutionizing Medical Imaging with Innovative Technology
Established in 2015, Exo specializes in producing handheld medical imaging devices that utilize a blend of artificial intelligence, medical imaging, and silicon technology for ultrasound examinations such as lung scans and echocardiograms. These devices can be easily connected to smartphones, allowing medical professionals to conduct scans, document findings, and share reports all through a single app.
Impressive Funding and Potential Partnerships
With over $320 million in funding from prominent investors like RA Capital Management, BlackRock, Intel, and Sony, Exo has been making waves in the medical technology industry. The company recently secured $220 million in a Series C funding round in 2021. In addition to its investment endeavors, Exo is also exploring a partnership with Samsung Medison Co., a leading manufacturer of medical devices for ultrasound diagnostics and digital X-ray systems.
Despite the exciting developments, representatives from Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health have not yet provided official comments on the potential investment and partnership discussions.
