Samsung to invest $100M for medical imaging startup Exo
Samsung’s venture capital arm is preparing to invest in California-based medical device startup Exo, as part of a funding round that could reach $100 million.
The round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital. Notably, Qubit Health’s chairman, former Medtronic CEO Omar Ishrak, is expected to join Exo’s board of directors, signaling strong strategic interest in the company's growth trajectory.
Founded in 2015, Exo has developed a handheld ultrasound device that integrates artificial intelligence, advanced medical imaging, and proprietary silicon technology. Designed for versatility and ease of use, the device connects to a smartphone, enabling clinicians to perform ultrasound scans—such as lung assessments or echocardiograms—directly at the point of care. Exo's platform also allows examiners to document and share reports seamlessly through a single app.
To date, Exo has raised over $320 million from high-profile backers, including RA Capital Management, BlackRock, Intel, Sony, Sands Capital, and Avidity Partners. Its most recent major fundraising was a $220 million Series C round in 2021.
In addition to the new funding round, Exo is reportedly in discussions with Samsung Medison Co., a Samsung subsidiary that manufactures medical imaging devices such as ultrasound and digital X-ray systems. A partnership could provide strategic alignment and expanded global distribution for Exo’s handheld ultrasound technology.
As of now, none of the involved parties—Samsung, Exo, Sands Capital, Bold Capital, or Qubit Health—have issued public statements or responded to requests for comment on the reported investment and potential partnership.
If confirmed, Samsung’s investment would mark another step in its broader push into digital health, aligning with growing demand for portable, AI-driven diagnostic tools in both developed and emerging healthcare markets.
