Samsung is reportedly considering a $100 million investment in Exo, a Silicon Valley-based medical imaging startup renowned for its innovative handheld ultrasound devices. This potential funding underscores Samsung’s strategic push into AI-driven healthcare technologies.
🏥 About Exo
Founded in 2015, Exo has developed a portable ultrasound device utilizing Piezoelectric Micromachined Ultrasonic Transducer (pMUT) technology. This device offers high-quality imaging at a fraction of the cost of traditional systems, aiming to make diagnostic imaging more accessible globally.
In July 2021, Exo secured $220 million in a Series C funding round led by RA Capital Management, with participation from BlackRock and Sands Capital, bringing its total funding to over $320 million.
🤝 Samsung’s Strategic Interest
Samsung’s potential investment aligns with its recent acquisition of French ultrasound AI startup Sonio for $92 million in May 2024. This move indicates Samsung’s commitment to enhancing its medical imaging portfolio with AI capabilities.
By investing in Exo, Samsung could integrate advanced handheld ultrasound technology into its healthcare offerings, potentially expanding its reach in point-of-care diagnostics.
🔍 Market Implications
The handheld ultrasound market is projected to reach $1.5 billion by 2024, growing at an annual rate of 9.5%. Exo’s technology, combined with Samsung’s resources, could accelerate the adoption of portable imaging solutions, especially in underserved regions.Exo
📌 Conclusion
Samsung’s contemplated $100 million investment in Exo signifies a strategic move to bolster its presence in AI-powered medical imaging. This partnership could revolutionize point-of-care diagnostics, making high-quality imaging more accessible worldwide.