Exo: Echo Of The New Age Invention In The Health & Wellness Sector

DEVICE DEVELOPED BY EXO AND ITS WORTH

Exo is a medical device start-up that develops handheld ultrasound devices and AI for imaging and therapeutic applications. By delivering easy-to-use, high-quality medical imaging, Exo empowers healthcare professionals to make critical, real-time decisions that improve patient outcomes. World Health Organization (WHO) has stated that around 75% of the world’s total population doesn’t have access to medical imaging, and a portable ultrasound imager can change the world.

The company is founded by four individuals from different backgrounds and who have worked in some top companies of the world-JanuszBryak, John Kokulis, Sandeep Akkaraju, and Yusuf Haque.

“We are a team of uber-focussed professionals trying to change the world and our product is such. Imagine a midwife in India or Namibia using our device to help pregnant mothers and also see if the babies are in a breech position. What we built has material sciences to it, software, algorithms, and advanced imaging technology. Our technology is also non-ionizing and non-radiating,” says Sandeep Akkaraju.

 INVESTORS WELCOMING EXO WITH THEIR OPEN ARMS

The company has acquired $40M in the series-B+ round in August 2020, led by Fiscus Ventures and Reimagined Venture (Magnetar Capital Affiliate) and Action Potential Venture Capital. Other companies like TDK Ventures, Solasta Ventures, and all existing investors, including Intel Capital and Applied Ventures also participated in this. Earlier the company had got $35M as an investment. Now Exo is having around $100M of funds.

“The company offers unique insights, a technology advantage, and a core vision,” says Anil Kumar, Investment Director at TDK Ventures.

“As both an emergency room physician and a venture capitalist, I know firsthand the transformative potential of the product that Exo is bringing to market,” said Dr. Ted Koutouzis of Fiscus and Reimagined Ventures, in a statement. “The Exo team is focussed on building a device that works seamlessly within the often chaotic and urgent environment of a hospital, and delivers the image quality, clean interface, and diagnostic tools that doctors have dreamed about having in the palm of our hands.”

 PLANS OF COMPANY TO MARKET IT IN UPCOMING TIMES

The team of Exo is planning to invest it in many ways like, finish product development built based on patented piezoelectric micromachined ultrasound transducer technology. Bringing its data and workflow apps to the market is also in the store.

In May this year, the start-up introduced former Google & Apple Executive Simon Prakash as the firm’s Executive Vice President of Product Engineering. Prakash had earlier led the development of Google Glass and helped create the first iPhone and iPad, according to Exo.

It is being predicted that the worldwide point of care ultrasound market will reach $1.5B in 2024 and grow at nearly 10% a year. The solution which Exo provides is crucial to the whole of humanity and it is also likely to become big in its sector. Definitely, healthcare will benefit from this. Many more inventions like this could also be expected following this.