Samsung’s venture investment arm is exploring a significant investment in the California-based medical device company Exo, potentially contributing to a financing round of up to $100 million.
According to reports citing anonymous sources, the current funding round is led by investment firms Sands Capital, Bold Capital, and Qubit Health Capital. Imar Ishrak, chairman of Qubit Health, is expected to join Exo’s board as part of the agreement.
Established in 2015, Exo develops portable medical imaging tools that leverage artificial intelligence and silicon technologies for ultrasound diagnostics, including lung assessments and echocardiograms. Its device connects directly to smartphones, enabling healthcare professionals to scan, document, and easily share diagnostic reports within one application.
To date, Exo has accumulated over $320 million in investment capital from prominent investors such as RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company’s most recent funding came in the form of a $220 million Series C round in 2021.
Additionally, Exo is reportedly discussing a partnership with Samsung Medison Co., a company specializing in ultrasound diagnostic equipment and digital X-ray systems.
Representatives for Samsung, Exo, Sands Capital, Bold Capital, and Qubit Health have not yet provided comments on the current report.
