Samsung’s venture unit may invest in Exo, a California-based medical device startup, in a $100 million round.
According to Bloomberg, citing anonymous sources, the round is led by Sands Capital, Bold Capital, and Qubit Health Capital. Qubit’s chairman, Imar Ishrak, will join Exo’s board.
Exo, founded in 2015, produces handheld medical imaging devices that combine artificial intelligence, medical imaging, and silicon technology for ultrasound examinations, such as lung scans or echocardiograms. The device connects to a smartphone, allowing medical examiners to scan patients, document, and share exam reports via an app.
Exo has raised over $320 million in funding from investors, including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company’s most recent funding was a $220 million Series C round in 2021.
Exo is also in discussions to partner with Samsung Medison Co., which manufactures medical devices for ultrasound diagnostics and digital X-ray systems. Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health did not respond to requests for comment.
