SonoCare, a Nigeria based health tech start-up providing services spanning the spectrum of women’s health, has raised $250,000 in funding to scale operations.
The funding was raised from GMC coLABS, the gender lens investment portfolio of US-based impact investor Gray Matters Capital (GMC).
In a statement made available to Business Insider Sub-Saharan Africa, Varun C Bhagath, Grey Matters Capital's Communications head, said SonoCare will use the funds to scale operations by developing a Mobile App and deploying more Mobile Units for catering to 200,000 pregnancies by 2020.
Offering both fixed site and mobile solutions, SonoCare provides cost-efficient programs scaled to the needs of hospitals, satellite clinics, health care providers like physicians and midwives, birthing centres, assisted living facilities as well as corporate offices using a combination of the most advanced imaging systems and highly trained, registered technologists as sonographers.
Dr Moses Enokela, Managing Director, SonoCare 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.”
“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”, said Jennifer Soltis, Portfolio Manager – coLABS, Gray Matters Capital.
“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”, she added.
SonoCare has been recognised by Microsoft’s Winsiders4Good program, the Obama Foundation (Africa Leaders), the Tony Elumelu Foundation and a host of others, becomes the third GMC coLABS portfolio company in Africa for Gray Matters Capital after A.R.E.D in Rwanda (2017) and Ghana’s Redbird Health Tech (2018).
It currently operates its services in Port Harcourt (River State), Lafia (Nasarawa State) and Sagbama (Bayelsa State) and Otukpo (Benue State) in Nigeria.