Exo Imaging, a Redwood City, California-based imaging company focused on handheld ultrasound technology, announced the completion of a Series B financing round worth $35 million. Intel Capital led the funding round.
The company, first founded in 2015, has now raised $50 million overall as it develops its handheld ultrasound platform based on piezoelectric micromachined ultrasonic transducer (pMUT) technology and AI. The platform is being designed specifically with convenient patient care and cost savings in mind.
“For too long, medical imaging products have been expensive, cumbersome to use and have catered to a small segment of users,” Sandeep Akkaraju, president and CEO of Exo Imaging, said in a prepared statement. “Our mission is to fundamentally change the economics, usability and accessibility of high-quality medical imaging and therapeutic tools.”
“The team at Exo is solving multiple challenges, ranging from fundamental material science to AI, while scaling from low-cost handheld imaging to the highest end equipment,” Dave Flanagan, vice president of Intel Corp. and senior managing director of Intel Capital, said in the same statement. “We share their enthusiasm for bringing medical imaging and AI to a much broader audience.”