Samsung Invests $100M in AI Imaging Startup Exo

Prime Highlights

Samsung is investing in Exo’s subsequent $100 million round, its go-big move into AI-based medical imaging.
Exo develops next-generation, handheld ultrasounds that marry mobile technology and artificial intelligence to enable rapid, point-of-care diagnosis.

Key Facts

Exo’s AI-driven ultrasound technology is smartphone-based, portable, and AI-powered—shaking frontline healthcare workers’ access to imaging technology.
The round is joined by Sands Capital, Bold Capital, and Qubit Health Capital, and Omar Ishrak, the former Medtronic CEO, sits on the board of Exo.

Key Background

Exo, founded in 2015 in Redwood City, California, is transforming medical imaging. The company produces AI-powered handheld ultrasound scanners to provide high-quality images to patients straight from hospital radiology departments. The scanners are linked to smartphones and allow physicians and medical professionals to scan, take, and share diagnostic images in real-time in one, intuitive app.

With over $320 million already raised from well-known investors including BlackRock, RA Capital Management, Intel, and Sony, Exo’s technology has been creating enormous waves. In 2021, the firm raised a $220 million Series C round to scale up business and drive product commercialization.

And now, as part of one of its latest $100 million fund-raisings, Exo is drawing fresh attention from global tech giants—Samsung being one of them. Samsung’s investment comes through its corporate venture arm, which has taken a fancy for digital health technology. Also on the table in reportedly negotiations is Samsung Medison, a firm specializing in diagnostic ultrasound and imaging technology, to be integrated closer or partnered with Exo’s technology. This is an indication of Samsung’s vision to control AI-based healthcare solutions in the long term.

Exo’s approach is to combine high-resolution imaging and mobility to enable clinicians to make faster, more accurate decisions at the point of care. With the possible support of Samsung, the startup company will be positioned to grow in the international market and further democratize access to diagnostic imaging.

In investing in Exo, Samsung is establishing its own stake in the nexus of artificial intelligence, mobile technology, and medical innovation—fields central to the future of medical diagnostics.