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HEALTHCARE | Medical Devices & Equipment / Imaging & Diagnostic Equipment

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Founded Year

2019

Stage

Seed VC | Alive

About GRAY

GRAY is a medical X-ray company that develops diagnostic imaging devices using DSLR cameras.

GRAY Headquarter Location

South Korea

Latest GRAY News

Gray Matters Capital’s GMC coLABS invests $250k in Nigeria’s SonoCare

Nov 22, 2018

By Staff Reporter on 22 November, 2018 US-based impact investor Gray Matters Capital  has made a $250 000 investment in Nigerian healthtech startup  SonoCare  through GMC coLABS , its investment portfolio which aims to improve the lives of women. The Port Harcourt based startup — which was founded in 2015 by managing director Dr Enokela Moses Owoicho — currently provides an on-demand mobile diagnostic imaging service in Lafia (Nasarawa State), Sagbama (Bayelsa State) and Otukpo (Benue State). In a statement yesterday, Owoicho (pictured above, right) said the investment will help the startup to scale its operations through its 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,” he said. SonoCare currently provides a an on-demand mobile diagnostic imaging service across in three states in Nigeria Gray Matters Capital said SonoCare is the first company in Nigeria to deploy a web or mobile resource for patient and inter-disciplinary collaboration. The impact investor stated that it had invested in SonoCare as it leverages technology and innovation as a solution of affordable to the lack of affordable and easy to access diagnostic care services in Sub-Saharan Africa. SonoCare has screened over 26 000 women from 17 rural communities and has detected over 15 000 high-risk pregnancies. In addition, Gray Matters Capital said the startup has helped low-income, rural women save $626 568 in costs that could have prevented them from seeking medical help. In July Gray Matters Capital  announced  that it had invested up “to $250 000” through GMC coLABS in Ghanaian medical diagnostics startup  Redbird Health Tech . In the same month, Gray Matters Capital issued a statement saying that it was looking to fund six new enterprises every six months through GMC coLABS — which invests up to $250 000 per company in  revenue share  investments. Gray Matters Capital, in its latest statement, said it continues to invite applications for funding to GMC coLabs — from innovative and scalable for-profit, early-stage companies that improve the lives of women and girls with their products and services. Last year the impact investor made its first investment in an African company by backing Rwandan solar kiosk micro-franchise African Renewal Energy Distributor ( ARED ).

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Expert Collections containing GRAY

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

GRAY is included in 2 Expert Collections, including Medical Devices.

M

Medical Devices

7,884 items

Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. *Columns updated as regularly as possible.

H

Health Monitoring & Diagnostics

2,394 items

Companies developing or offering products that aid in the assessment, screening, diagnosis, or monitoring of a person's state of health/wellness. Excludes companies focused solely on fitness/sports performance

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