Exo raised $40 million for its handheld medical imaging device

Exo, a make of brand-new diagnostic hardware for the medical industry, has raised $ 40 million in a new round of funding as investors continue to back brand-new business that are reducing the cost and complexity of medical devices.

Cost, portability, likenes quality and the inability to image dense body essays has already been restriction the impact that diagnostic implements like ultrasounds can have on patient care around the world, according to a statement from the company.

Exo solves that difficulty by building on a patented piezoelectric micromachined ultrasound transducer, the company said.

Its manoeuvre improves persona excellence, while an accompany software toolkit lifts the diagnostic the capacities of the device.

Exo predicts that the worldwide point of attention ultrasound grocery been able to reach $1.5 billion in 2024 and change at nearly 10 percent a year.

” Emergency area phyisicians around the world are often tasked with solving some of the most urgent healthcare difficulties — COVID-1 9 diagnosis and complications, cardiac emergencies, internal bleed — without being able to see clearly into a patient they only have instants to diagnose and give ,” said Exo chief executive Sandeep Akkaraju, in a statement.

The brand-new $40 million round to back the company’s technology follows a $35 million investing in 2019 and accompanies the company’s total asset caused to roughly $100 million, according to a statement. The funding was led by Fiscus Ventures, Reimagined Ventures( both affiliates of Magnetar Capital) and Action Potential Ventures, with added participation from TDK Ventures, Solasta Ventures and all previous investors, including Intel Capital and Applied Ventures.

Exo’s team comes from consumer tech monstrous like Apple and Google and guiding medical invention fellowships like GE, Johnson& Johnson, Maxim, Medtronic, and Siemens.

” As both an emergency room phyisician and a venture capitalist, I know firsthand the transformative capacity of the products that Exo is bringing to sell ,” said Dr. Ted Koutouzis of Fiscus and Reimagined Ventures, in a statement.” The Exo team is focused on a building a manoeuvre that works seamlessly within the often chaotic and urgent environment of a hospital, and extradites the image caliber, clean interface, and diagnostic implement sthat doctors have dreamed about having in the palm of our hands .”

The Exo hardware comes with a suite of software tools that have been designed to integrate with existing workflows. And the company has plans to use its initial foray into medical imaging as a lane to shore and expand into a broader collection of tools for the hospital or urgent maintenance environment. The busines foresees a multi-functional device that can perform a number of different diagnoses.

” Exo is creating a programme engineering that can drive true adoption of point of attention portrait in emergency rooms and critical care units, helps in advanced surgical robotics and endoscopic procedures, and could enable therapeutic modalities in non-invasive neuromodulation and drug-delivery ,” said Juan Pablo Mas, of Action Potential Venture Capital( the corporate project weapon of GlaxoSmithKline focused on bioelectronic technologies ).

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