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Gray Matters Capital Invests $250 Thousands in Nigerian E-Health Startups SonoCare

TechInAfrica – The Nigerian-based e-health startup, SonoCare has received a fund of $250k from Gray Matters Capital. The fund is aimed at developing and manufacturing mobile units for providing over 200,000 pregnancies by 2020.

SonoCare was built in 2015, focusing on offering their services to women’s health, including providing on-demand mobile 3D/4D diagnostic imaging and cardiac monitoring. In Nigeria, it was the first in its kind where the company provides a website and mobile resource for patients’ information. SonoCare also offers affordable programs for hospitals, clinics and healthcare providers with its advanced imaging systems and trained technologists, sonographers.

Gray Matters Capital Invests $250 Thousands in Nigerian E-Health Startups SonoCare
Gray Matters Capital Invests $250 Thousands in Nigerian E-Health Startups SonoCare via disrupt-africa.com

In Nigeria, it operates in four different areas. With the fund from Gray Matters Capital through an-early stage portfolio investment, GMC coLABS, SonoCare will expand its operation across Nigeria.

The Managing Director of SonoCare, Dr. Moses Owoicho Enokela, said: “We are excited to partner with GMC coLABS as our first institutional investor, as we both share the vision and passion to positively impact the lives of women. With this investment, we will be able to scale our operations through our mobile app in addition to deploying more mobile units. This will push us to reach our first 200,000 pregnancies by 2020 and to profitability.”

So far, SonoCare has screened more than 26,000 women from 17 different rural areas. Among the numbers, 15,000 of them were detected to have high-risk pregnancies.

The Portfolio Manager for GMC coLABS, Jennifer Soltis, explained, “With its mobile diagnostic services, SonoCare detects pregnancy complications before they become threats to the lives of women, giving those in low resource areas a better chance for safer pregnancies and deliveries,”

“We are proud to support the work of Dr. Moses, a determined and resilient entrepreneur who has brought to market a solution to a problem that most lack the grit to attempt to solve at scale. We’ve been very impressed with what he’s accomplished with modest resources and can’t wait to see what the future holds for him,” Soltis added.

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Written by Rinchi

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