MedTech Boost: SonoCare Startup Secures $250K from Gray Matters Capital!

Published 14 hours ago2 minute read
MedTech Boost: SonoCare Startup Secures $250K from Gray Matters Capital!

SonoCare, a pioneering Nigerian medical startup based in Port Harcourt, has successfully secured $250,000 in funding from Gray Matters Capital. This significant investment, channeled through Gray Matters Capital's gender-focused portfolio division, GMC CoLabs, is earmarked to propel SonoCare's expansion efforts and enhance its reach to a wider demographic of users across Nigeria.

The funding approach adopted by Gray Matters Capital involves disbursing the investment in trenches, contingent upon SonoCare achieving specific milestones. While this method can be challenging for startups, often equating to a bootstrapping scenario, it is designed to foster greater resource efficiency within the company and provide investors with a heightened sense of security regarding their investment. This strategic financing is poised to enable SonoCare to scale its impactful services significantly.

Founded in 2015 by Moses Owoicho Enokela, a medical doctor trained at the University of Port Harcourt, SonoCare operates as an innovative on-demand mobile diagnostic imaging company. Its core mission revolves around delivering high-quality, accessible, and affordable diagnostic medical services directly to the points of need, particularly in rural and underserved areas of Nigeria. SonoCare leverages both web-based platforms and portable devices for the efficient transmission of patient information and to facilitate interdisciplinary collaboration, a pioneering approach in Nigeria where it also stands as a leading provider of ultrasound services.

The critical need for SonoCare's services is underscored by alarming statistics from the United Nations Children’s Emergency Fund (UNICEF), which highlight that 1 in every 13 pregnant Nigerian women succumbs during pregnancy or childbirth. Tragically, a vast majority of these 58,000 annual maternal deaths are preventable, provided complications are accurately diagnosed and promptly addressed. SonoCare directly confronts these challenges by deploying essential medical scanning equipment to communities where they are most needed, offering these services quickly and cost-effectively.

Since its inception, SonoCare has demonstrated remarkable impact, providing crucial screening services in 17 communities and screening over 26,000 women. Through these efforts, an estimated 15,000 high-risk pregnancies have been identified, allowing for timely intervention and potentially saving countless lives. Currently, SonoCare extends its operations across four Nigerian states: Rivers, Nasarawa, Bayelsa, and Benue.

With the fresh injection of capital from Gray Matters, SonoCare is poised to venture into new territories and undertake a pivotal technological advancement: the development of a dedicated mobile application. The founder articulated the strategic vision, stating,

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