Samsung’s venture investment unit is reportedly exploring an investment in California-based medical device startup Exo, as part of a funding round that could scale up to $100 million. The round is said to be led by Sands Capital, Bold Capital, and Qubit Health Capital, with Qubit’s chairman and former Medtronic CEO, Omar Ishrak, expected to join Exo’s board. The move signals growing momentum in portable, AI-powered healthcare diagnostics, an area both startups and established players are keen to dominate.
Exo is no stranger to venture capital attention. The company has already raised over $320 million from an impressive roster of investors, including RA Capital Management, BlackRock, Intel Capital, Sony Innovation Fund, and Avidity Partners. Its most notable round came in 2021, when Exo secured $220 million in a Series C round. The investment was geared toward commercialising its handheld ultrasound device and expanding its AI platform.
Behind Exo: bringing AI into the palm of your hand
Founded in 2015 by Sandeep Akkaraju and Yusuf Haque, Exo is at the cutting edge of point-of-care medical imaging. The company has developed a handheld ultrasound device that uses a novel blend of artificial intelligence, silicon chip technology, and advanced medical imaging to perform examinations such as lung scans or echocardiograms. The device connects directly to a smartphone, allowing users to scan, document, and share exam results via a single app, dramatically streamlining the diagnostic workflow.
Exo’s core mission is to democratise access to high-quality imaging, enabling healthcare providers, even in resource-limited settings, to offer fast, accurate, and portable diagnostic capabilities. In an era increasingly shaped by digital health, Exo’s all-in-one solution is a powerful response to the demand for accessible, mobile healthcare tools.
AI-powered imaging meets seamless workflow
Exo’s flagship product, Exo Iris, is a handheld ultrasound device designed to deliver high-quality imaging across the entire body. Unlike traditional systems that require multiple probes, Exo Iris integrates curved, linear, and phased array capabilities into a single probe, enabling clinicians to perform various scans without switching devices. Its compact design allows for portability and ease of use in diverse clinical settings.
It has developed SweepAI, an FDA-cleared artificial intelligence platform integrated into Exo Iris. This technology provides real-time feedback during scanning, automatically identifying optimal images and offering diagnostic insights without relying on internet connectivity. SweepAI assists in evaluating conditions such as heart failure, cardiac hypertrophy, valvular disease, pneumonia, and pulmonary embolism, enhancing diagnostic accuracy and efficiency.
To complement its imaging hardware, it offers Exo Works, a workflow software solution that simplifies patient data management. Clinicians can quickly enter patient information, document exams, and share results securely. The platform supports integration with existing hospital systems, facilitating seamless storage and retrieval of imaging data.
Potential Samsung collaboration
The new funding could usher in more than just capital. It was also reported that Exo is in talks to partner with Samsung Medison, the medical devices arm of Samsung that specialises in ultrasound diagnostics and digital X-ray systems. This partnership could create powerful synergies by combining Samsung’s established global presence and manufacturing capabilities with Exo’s innovative, software-driven platform.
A collaboration would mark a strategic alignment for Samsung, which has been steadily expanding its healthcare footprint, and provide Exo with the scale and infrastructure needed to reach broader markets, including hospital systems and global telehealth providers.
A clear path to commercialisation
With this investment round, Exo appears to be positioning itself for a full-scale commercial rollout. The influx of capital could help the company expand distribution, enhance AI capabilities, and obtain further regulatory clearances.
The report underscores a larger trend: healthcare is rapidly becoming more mobile, data-driven, and patient-centric. Exo’s ability to embed complex diagnostic power into a device that fits in a coat pocket may soon redefine how and where care is delivered. As this funding round progresses, all eyes will be on Exo, not just for the investment numbers, but for what it might mean for the future of connected, AI-first medical imaging.
