Exo, the California-based startup pioneering AI-powered handheld ultrasound devices, is reportedly in talks to raise up to $100 million in new funding — with Samsung’s venture arm exploring a potential stake. The round is said to be led by Sands Capital, Bold Capital, and Qubit Health Capital, whose chairman, former Medtronic CEO Omar Ishrak, is expected to join Exo’s board.
For Samsung, the move signals a deepening commitment to AI-driven healthcare, aligning with its broader push into medical diagnostics via its subsidiary Samsung Medison. For Exo, it’s an opportunity to expand its footprint and commercialize faster—with the backing of a global medical tech powerhouse.
Exo’s AI-First Ultrasound Reinvents Point-of-Care Diagnostics
Founded in 2015 by Sandeep Akkaraju and Yusuf Haque, Exo is reimagining medical imaging from the ground up. Its flagship product, the Exo Iris, is a palm-sized ultrasound scanner that delivers full-body diagnostic imaging. Unlike conventional systems requiring multiple probes, Exo Iris combines curved, linear, and phased arrays into a single, versatile device.
The probe connects to a smartphone, where clinicians can scan, interpret, and share results via a single mobile app. At its core is SweepAI, Exo’s FDA-cleared artificial intelligence platform. SweepAI enhances clinical accuracy by offering real-time feedback during scanning—even offline—helping clinicians detect conditions like cardiac hypertrophy, pneumonia, valvular disease, and pulmonary embolism.
This makes Exo Iris not just a device, but a comprehensive diagnostic assistant, equally useful in hospitals, ambulances, rural clinics, or disaster zones.
Complementing its imaging hardware, Exo has also developed Exo Works, a patient-centric workflow software that streamlines everything from exam documentation to secure result sharing. The system integrates with hospital EHRs, making it a seamless plug-in for existing clinical infrastructure.
With over $320 million already raised, including from Intel Capital, Sony Innovation Fund, BlackRock, and RA Capital, Exo’s 2021 Series C ($220M) laid the foundation for commercial readiness. Now, with Samsung reportedly joining the next round, the stage is set for a major expansion push.
Samsung Partnership Could Supercharge Global Reach
Samsung’s interest goes beyond funding. The tech giant is said to be exploring a strategic partnership via Samsung Medison, its medical devices subsidiary. With expertise in ultrasound imaging and digital X-ray systems, Medison offers a complementary platform that could help scale Exo’s technology to hospitals and telehealth networks worldwide.
A partnership could also mean leveraging Samsung’s manufacturing capabilities to bring Exo’s devices to market faster and more cost-effectively—a key advantage in the increasingly competitive landscape of portable diagnostics.
The expected funding round is more than just a capital injection—it’s a vote of confidence in Exo’s vision of democratizing medical imaging. In a world moving rapidly toward mobile, connected, and AI-enhanced healthcare, Exo stands at the crossroads of innovation and accessibility.
With compact, intelligent tools like Exo Iris, clinicians can now deliver hospital-grade imaging without the hospital. And with Samsung possibly in its corner, Exo may soon redefine how diagnostic care is delivered across the globe.
