Handheld ultrasound developer Exo announced on August 20 that the company has raised $40 million in additional series B funding for its artificial intelligence (AI)-driven sonography technology.
Reimagined Ventures, Fiscus Ventures, and Action Potential Venture Capital led the round, which included seven total investors and one partner investor. The latest funding was documented by early-stage startup website Crunchbase.
Exo will use the funds for research and to develop its piezoelectric micromachined ultrasound transducers technology and AI-driven software. The company plans to launch the software by the end of 2020 and the accompanying ultrasound device in the first quarter of 2021, according to a Crunchbase news article.
With the new cash influx, Exo has reportedly raised nearly $100 million for its handheld ultrasound device and accompanying software technology. The Redwood City, CA-based startup most recently announced $35 million in series B funding in 2019.
