The medical imaging technology behind the world’s most powerful handheld ultrasound device has been backed by a new round of investment. This new $40 million round is the latest in a string of venture capital investments backing hardware companies that are reducing the cost and complexity of diagnostic tools.
Designed to deliver unrivaled image quality, definition and depth at an affordable cost, the handheld device will use radically new materials, processes and AI to produce a portable ultrasound system that can be distributed worldwide. Once regulatory approvals are in place, the Exo team expects to launch a commercially available device.
Exo works with a suite of software tools to streamline workflows within the point of care environment, enabling hospital-grade security and connecting the system securely to EMRs and PACS for diagnostic imaging and communication. This includes its Exo Works, a workflow solution that streamlines exam review, documentation and billing in less than 60 seconds.
The Redwood City, CA-based company is led by a team with deep experience in nanotechnology, silicon technology and consumer device development, including former GE Healthcare and Johnson & Johnson executives Jeff Peiffer and Andy Berthusen. Exo’s investors include Action Potential Venture Capital (GlaxoSmithKline), Applied Ventures, LLC, Avidity Partners, BlackRock, Bold Capital Partners, Compal, Creative Ventures, Ferretto Capital, Fiscus Ventures and Reimagined Ventures (Magnetar Capital affiliates). This round also included participation from TDK Ventures, Solasta Ventures, and prior investors.
