Exo raises $220 million for ultrasound scanner development
The company was founded in 2015 with the mission to use MEMS and AI technologies to bring down the size and cost of ultrasound scanning and treatment so that what was hospital-based could become handheld or wearable.
The latest round of finance brings the amount raised by the company to $320 million. It was led by RA Capital Management and joined by BlackRock, Sands Capital, Avidity Partners and Pura Vida Investments Prior investors also participated.
The money will be used to fund the commercialization of Exo’s handheld ultrasound device and a complementary point-of-care ultrasound software. This is the secure software environment that allows the collection, viewing and transfer of data.
Exo’s handheld ultrasound device will require regulatory approvals.
“Exo has developed a transformative point-of-care ultrasound solution. Their best-in-class imaging coupled with a simple and intuitive workflow will make them a leader in this exciting field,” said Zach Scheiner, principal with RA Capital Management.
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