Samsung’s Venture Investment Unit Eyes Investment in Medical Device Startup Exo
Samsung’s venture investment unit is reportedly in talks to invest in California-based medical device startup, Exo. According to a report by Bloomberg, the investment round could reach up to $100 million, with Sands Capital, Bold Capital, and Qubit Health Capital leading the financing. Imar Ishrak, chairman of Qubit Health Capital, is expected to join Exo’s board as part of the deal.
Exo, founded in 2015, specializes in handheld medical imaging devices that leverage artificial intelligence, medical imaging, and silicon technology for ultrasound examinations such as lung scans and echocardiograms. These innovative devices are designed to plug into smartphones, enabling medical professionals to perform scans, document findings, and share reports using a single app.
With over $320 million in funding raised to date from investors like RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners, Exo has established itself as a key player in the medical device industry. The company most recently secured $220 million in a Series C funding round in 2021.
Furthermore, Exo is exploring a potential partnership with Samsung Medison Co., a subsidiary of Samsung that specializes in medical devices for ultrasound diagnostics and digital X-ray systems. This collaboration could further enhance Exo’s market presence and technological capabilities.
Despite the exciting developments, representatives from Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health have not yet provided official comments on the reported investment and partnership talks.
