SonoCare is a Nigeria based health tech start-up providing services spanning the spectrum of women’s health such as on-demand mobile 3D/4D diagnostic imaging and cardiac monitoring among others.
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.
Investment Rationale:
With one in thirteen women in Nigeria dying during pregnancy and childbirth, and a vast majority of such deaths occurring in rural areas, Gray Matters Capital saw SonoCare’s mobile diagnostic medical imaging solution that leverages technology and innovation as a solution to the lack of affordable and easy to access diagnostic care services in Sub-Saharan Africa.
With our funding, SonoCare would develop a mobile app and deploy more mobile units to cater to 200,000 pregnancies by 2020.
About Graymatterscap
Gray Matters Capital (GMC) is an Atlanta based impact investor with a gender lens that is on a mission to “Find a more purposeful life for 100 million women by 2036." Aligning with its mission is its strategy of making sector agnostic investments globally in for-profit enterprises whose products and services benefit women and girls at scale.
GMC sees education, primarily catering to under-resourced and low and middle income sections of the society, as a powerful tool to bring about gender equality and social equity. Over the past 12 years, it has focused on supporting the education ecosystem India by funding for-profit enterprises in the ‘learning to earning’ space, besides being pioneers in establishing the school finance industry catering to low cost private schools in India with Indian School Finance Company (ISFC); Pakistan with the set-up of Taleem Finance Company Ltd (TFCL), in addition to Nigeria (with EdFin Microfinance Bank).
GMC has till date funded over 80 enterprises across the world to the tune of US$ 125 million.
To know more, visit: graymatterscap.com
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