Samsung may invest in $100M round for medical imaging startup Exo

Samsung's venture investment arm is reportedly considering investing in Exo, a California-based medical device startup specializing in handheld ultrasound imaging devices, as part of a funding round potentially reaching $100 million led by Sands Capital, Bold Capital, and Qubit Health Capital. Exo, which integrates AI and silicon technology into its devices, has already raised over $320 million from investors including BlackRock and Intel. The company is also exploring a partnership with Samsung Medison Co., a manufacturer of ultrasound diagnostics and digital X-ray systems.

Analysis

Samsung's venture investment unit is reported to be exploring an investment in Exo, a California-based medical device startup, potentially contributing to a funding round that could reach $100 million. This round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital, with Qubit Health Capital's chairman, Imar Ishrak, slated to join Exo's board, indicating significant strategic interest from these investors. Exo, founded in 2015, specializes in handheld ultrasound imaging devices that integrate artificial intelligence, medical imaging, and silicon technology, facilitating examinations like lung scans and echocardiograms via a smartphone-connected application. The company has a notable funding history, having already secured over $320 million from prominent investors including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners, with its most recent disclosed funding being a $220 million Series C round in 2021. Furthermore, Exo is reportedly in discussions for a strategic partnership with Samsung Medison Co., a manufacturer of ultrasound diagnostics and digital X-ray systems, which could create substantial synergies by combining Exo's innovative portable technology with Samsung's established medical device market presence. This development, associated with a 'strongly positive' sentiment score of 0.65, underscores continued investor confidence and activity in the AI-driven healthcare technology and portable diagnostics sectors within private markets.

Key Decisions for Investors

• Private equity and venture capital investors should note the sustained appetite for AI-driven medical technology, as Exo's potential $100 million round and the involvement of established funds signal strong valuation support and validation of innovative portable diagnostic solutions.
• Investors tracking Samsung's strategic initiatives should view this potential investment and the discussed partnership with Samsung Medison Co. as a deliberate move to enhance its footprint in the advanced medical device market, particularly in AI-powered portable ultrasound technology; the finalization of this deal would be a key development to monitor.
• For shareholders in companies like BlackRock, Intel, and Sony, which are existing investors in Exo, this news provides a positive, albeit indirect, indication of the appreciating value and strategic advancement of their private equity investments within the healthcare technology domain.
• The transaction highlights the ongoing convergence of artificial intelligence, portable medical devices, and diagnostics, suggesting that the theme continues to attract significant capital and may offer further growth opportunities for well-positioned companies in this sub-sector.