August 23, 2019 — Exo Imaging Inc. announced a $35 million Series B financing round for its high-performance ultrasound platform based on piezoelectric micromachined ultrasonic transducers (pMUT) and artificial intelligence (AI) for imaging and therapeutic applications.
Exo (pronounced “Echo”) is bringing diagnostic-grade medical imaging to the pocket of every caregiver and clinician worldwide, according to the company. It is developing an affordable medical ultrasound platform capable of exceptional image fidelity, penetration depth and 3-D imaging that still fits in the palm of your hand.
The Exo ultrasound platform combines advances in nano-materials, novel sensor technologies, advanced signal processing and computation with the economies of scale of semiconductor manufacturing to dramatically reduce the cost of imaging.
The company was founded in 2015 and has raised nearly $50M to date. Intel Capital led the Series B. Other investors in Exo include: Applied Ventures, Bold Capital, Creative Ventures, Longevity Vision Fund, Magnetar Capital, Nautilus Venture Partners, OSF Healthcare, Rising Tide Fund, Sony Innovation Fund and Wanxiang Healthcare Investments.
Exo CEO Sandeep Akkaraju said the Series B financing will enable the company to advance its products through the U.S. Food and Drug Administration (FDA) 510(k) clearance process and into commercialization. The company will use the proceeds to build out its team of engineering, sales and operations professionals.
For more information: www.exo-imaging.com