Samsung’s investment division is planning to invest in California-based medical device startup Exo, in a funding round that could reach $100 million, according to media reports.
The funding round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital. As part of the deal, Qubit’s chairman, Omar Ishrak, is expected to join Exo’s board of directors.
Founded in 2015, Exo develops portable ultrasound devices that combine artificial intelligence, advanced imaging, and silicon technology. These handheld tools connect to smartphones, allowing medical professionals to scan organs such as the lungs or heart, and manage reports directly through an app.
To date, Exo has raised over $320 million from investors including BlackRock, Intel, Sony, and RA Capital. The company last secured $220 million in its Series C funding round in 2021.
Exo is also said to be exploring a partnership with Samsung Medison, Samsung’s medical equipment arm, which specializes in ultrasound and digital X-ray systems.
None of the involved companies have officially commented on the potential investment at this time.
