In a significant development within the medical technology sector, Samsung’s venture investment arm is reportedly considering a substantial investment in Exo, a California-based medical device startup. This potential funding round, which could reach up to $100 million, underscores the growing interest in innovative medical imaging solutions that combine artificial intelligence (AI) with advanced hardware.
Exo’s Innovative Approach to Medical Imaging
Founded in 2015, Exo has been at the forefront of developing handheld medical imaging devices that integrate AI, medical imaging, and silicon technology. These devices are designed to perform a variety of ultrasound examinations, including lung scans and echocardiograms. By connecting to a smartphone, Exo’s technology enables medical professionals to conduct scans, document findings, and share reports seamlessly through a single application. This approach aims to make high-quality medical imaging more accessible and efficient, particularly in point-of-care settings.
A History of Robust Funding and Strategic Partnerships
To date, Exo has successfully raised over $320 million in funding from a diverse group of investors, including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company’s most recent funding milestone was a $220 million Series C round in 2021, which was earmarked for the commercialization of its handheld ultrasound device and the development of its intuitive point-of-care ultrasound workflow solution, Exo Works.
In addition to its financial achievements, Exo has actively pursued strategic partnerships to expand its global footprint. In June 2023, the company announced a collaboration with Sana Kliniken AG, a leading integrated healthcare provider in Germany. This partnership aims to deploy Exo’s handheld ultrasound platform and AI capabilities across Sana’s extensive network of facilities, enhancing real-time decision-making and improving patient outcomes.
Samsung’s Strategic Interest in Medical Imaging
Samsung’s potential investment in Exo aligns with its broader strategy to strengthen its position in the medical imaging and diagnostics market. The company’s venture investment unit has a history of supporting innovative startups in this space. For instance, in July 2024, Samsung Ventures participated in a Series B+ funding round for Subtle Medical, a leader in AI-powered medical image acquisition. This investment was intended to support Subtle Medical’s global expansion and the development of new AI-driven products.
Furthermore, Samsung Medison, a subsidiary specializing in diagnostic imaging devices, has been actively expanding its AI capabilities. In May 2024, Samsung Medison acquired Sonio SAS, a French AI software firm specializing in fetal ultrasound diagnostics, for approximately $92 million. This acquisition aimed to enhance Samsung’s AI offerings and drive innovation in ultrasound technology.
Implications of the Potential Investment
The reported investment in Exo signifies Samsung’s commitment to advancing medical imaging technologies through strategic investments and partnerships. By supporting Exo’s development of handheld ultrasound devices integrated with AI, Samsung is positioning itself at the forefront of a rapidly evolving market. This move not only reflects the company’s dedication to innovation but also highlights the growing importance of accessible and efficient medical imaging solutions in modern healthcare.
As the medical technology landscape continues to evolve, collaborations between established corporations like Samsung and innovative startups like Exo are likely to play a pivotal role in shaping the future of medical diagnostics and patient care.
