Grace Ashiru
The global medical device market is set to surge from $678.88 billion in 2025 to more than $1.1 trillion by 2034, fueled primarily by rising demand for home health monitoring among aging populations and those with chronic conditions.
Established companies like Omron have long dominated with clinically validated tools like blood pressure monitors and ECG devices used in homes and hospitals. But while African firms have historically had little presence in this space, emerging players like Platos Health could shift that trend.
Platos Health, a Nigerian startup, is positioning itself as a homegrown alternative to global medtech giants choosing to move beyond the typical telemedicine focus seen among African healthtech startups.
The Lagos-based startup recently secured $1.4 million in pre-seed funding to expand its AI-driven health monitoring platform.
The funding round was led by Google for Startups and Invest International, with participation from angel investors affiliated with Google, Tesla, and Unicredit.
Founded in 2020 by Joseph Fakayode, Platos Health created the Platos Body Monitor, a medical-grade smart device that measures up to 49 health metrics—such as weight, BMI, heart rate, hydration, body fat, and visceral fat—and connects seamlessly with the Platos Monitor software on Android, iOS, and web platforms.
The platform integrates with Apple Health and Google Health Connect, enabling users to consolidate their health data and receive personalised insights powered by an AI engine.
With under 500 cardiologists for a population exceeding 200 million and a growing burden of chronic illnesses, Platos Health is targeting Nigeria’s underserved healthcare space with accessible, preventive care beyond conventional hospitals.
Platos Health pegs its addressable market in Nigeria at $30 million, with devices now available in leading pharmacy chains like Medplus and Justrite, retailing between ₦80,000 ($50) and ₦120,000 ($80).
Platos Health is now part of the group of companies like MDaaS and WellaHealth, working to address the long-standing issue of healthcare access in Nigeria.
