$40M Raised In Series for Portable Medical Imaging Devices By Exo for TechCrunch
medical exo aipowered serieshalltechcrunch – Exo, a medical device startup that creates portable ultrasound and AI medical devices have raised $40 Million in Series funding which was led by Fiscus Ventures, Reimagined Ventures, and Solasta Ventures including previous investors. Exo is attempting to get into the $6 billion ultrasound business by fitting advanced imaging technology into a portable, cost-friendly hand-held device.
Who is Exo?
Exo is a medical device startup that creates portable ultrasound equipment and AI ( Artificial Intelligence) for diagnostic and also therapeutic uses. This organization is located in California, United States. It has 101-250 employees. The founders of Exo are Sandeep Akkaraju (CEO), Yusuf Haque Ph.D. ( Co-founder), and Janusz Bryzek Ph.D. ( Co-founder).
Exo is a healthcare system of the future that isn’t confined by hospital walls and is designed for a time when healthcare professionals can instantly view everything about every patient. It emphasizes simplicity. Exo works tirelessly to make the goods and services, not to mention communications and business processes, simpler. It’s not simplistic to be simple. It requires consideration and focus.
What does AI Powered mean?
Any Device or Software which utilizes Artificial Intelligence technology known as AI-powered. It includes machine learning, reinforcement learning, deep learning, computer vision, natural language processing, etc.
Through thoughtful ideas and recommendations, an AI-powered product should be able to support the efforts of its users. The problem may be the same for two users, but the solution isn’t necessarily the same. The AI will be able to explain why jobs are running behind schedule by examining variances in work habits, allowing the project manager to put his best solutions into action. The project manager can exercise his decision-making and problem-solving skills with the assistance of AI.
Exo raises $40M in Series for Its AI-Powered Ultrasound Devices for improved Service
As investors continue to support emerging businesses that are lowering the price and complexity of medical devices, Exo, a developer of innovative diagnostic gear for the medical sector, has raised $40 million in a fresh round of funding.
The influence that diagnostic tools like ultrasounds may have on patient care around the world has been constrained by factors including cost, portability, image quality, and the inability to image thick body compositions, according to a statement from the business. medical exo aipowered serieshalltechcrunch
Exo, according to the business, addresses that issue by relying on a patented piezoelectric micromachined ultrasound transducer. Its product enhances image quality while a companion software toolkit expands the product’s diagnostic capabilities. According to Exo, the global market for a point-of-care ultrasound will reach $1.5 billion in 2024 and expand at a rate of around 10% annually.
Emergency room physicians around the world are frequently challenged with managing some of the most urgent healthcare concerns. COVID-19 diagnosis and complications, cardiac emergencies, and internal bleeding,” said Exo Chief Executive Sandeep Akkaraju in a statement.
According to a release, the firm has now raised close to $100 million. In total cash following a $35 million investment in 2019 and the new $40 million round to support its technologies. All previous investors, including Intel Capital and Applied Ventures, as well as Fiscus Ventures, Reimagined Ventures, and also Action Potential Ventures, in addition to TDK Ventures, Solasta Ventures, and all of the previous investors, participated in the funding.
Exo’s team includes members of top consumer technology businesses including Apple and Google as well as GE, Johnson & Johnson, Maxim, Medtronic, and Siemens.
A group of software tools that have been created to operate with current workflows is included with the Exo hardware. The business also intends to leverage its initial venture into medical imaging as a springboard. It is to establish and grow into a larger suite of products for the hospital or urgent care setting. The business imagines a multipurpose tool that is capable of many different diagnoses.
Exo is developing a platform technology that can drive the true adoption of point-of-care imaging in emergency rooms. Which also includes critical care units, and can facilitate advanced surgical robotics as well as endoscopic procedures. It could also enable therapeutic modalities in non-invasive neuromodulation and drug delivery.