Exo (stylized as Exo) is a medical technology company that builds handheld ultrasound devices integrated with a proprietary AI software layer. Based in Santa Clara, the company aims to move diagnostic imaging away from expensive, cart-based systems and into the pockets of everyday clinicians. The core of their offering is a custom silicon chip that replaces the expensive piezoelectric crystals found in traditional ultrasound probes, combined with a software ecosystem that uses machine learning to interpret scans in real-time.

The hardware bottleneck

Medical imaging has historically been a centralized service. If a patient needs an ultrasound, they are typically referred to a specialist department where a technician uses a six-figure machine to capture images that a radiologist later interprets. This creates significant lag in diagnosis and limits the use of ultrasound in emergency or remote settings. Exo’s technical breakthrough is the development of Piezoelectric Micromachined Ultrasonic Transducers (pMUT). By manufacturing these transducers on silicon wafers, Exo can produce high-frequency sound waves with a device that is roughly the size of a smartphone. This miniaturization is the first step in making medical imaging a ubiquitous sensory tool rather than a specialized event.

AI as the clinical interface

The hardware is only one part of the story. The primary reason ultrasound has not become as common as the stethoscope is that it is difficult to use. Interpreting the grayscale ultrasound image requires years of training. This is where Exo’s AI layer, known as Exo Works, becomes the differentiator. The company builds models that provide real-time guidance to the user. When a clinician places the probe on a patient, the AI identifies anatomical landmarks, provides feedback on probe positioning, and can automatically calculate metrics like bladder volume or cardiac output.

This shift is a clear example of how AI expands the capabilities of a human operator. By offloading complex pattern recognition and measurement tasks to a model, Exo allows a nurse or a general practitioner to perform scans that were previously the domain of specialists. The device is an intelligent assistant that handles the technical heavy lifting of the diagnostic process, enabling faster decision-making at the point of care.

Competitive context and scale

Exo operates in a sector often referred to as Point-of-Care Ultrasound (POCUS). Its most visible competitor is Butterfly Network, which brought the first ultrasound-on-a-chip to market. However, Exo has positioned itself as a more integrated solution for large-scale hospital systems. While some competitors focused on a low-cost device for individual doctors, Exo has leaned into the enterprise software layer. Their platform handles the logistics of hospital IT, including billing, image archiving, and integration with electronic health records (EHR).

The company was founded in 2015 by a team with deep roots in the semiconductor and MEMS industries. CEO Sandeep Akkaraju and the technical team brought together leaders who have spent decades working on ultrasound and sensor technology. This pedigree helped the company raise over $320 million in venture capital, including a significant Series C round in 2021. This funding reflects the belief that the combination of custom silicon and verticalized AI is a viable way to disrupt the medical imaging market.