Plato Aims to Revolutionize Nigeria's Healthcare Sector through the Use of Artificial Intelligence-Driven Gadgets
In a significant move towards revolutionising healthcare access in Nigeria, Platos Health, a homegrown AI-driven health-tech startup, has successfully secured $1.4 million in pre-seed funding. The funding round, led by Google for Startups and Invest International, was also backed by angel investors from global tech leaders such as Google, Tesla, and Unicredit.
Founded in 2020 by Joseph Fakayode, Platos Health is part of a group of companies including MDaaS and WellaHealth, collectively working to address Nigeria's long-standing issue of healthcare access. The startup is now positioning itself as a homegrown alternative to global medtech giants, with its AI-powered health platform, Platos Monitor, at the forefront of its expansion plans.
The funds raised will be used to upscale the platform and accelerate growth in preventive and proactive health management. Key future developments include the launch of Platos 3.0, an evolution of their health monitoring technology aimed at fostering a proactive and preventive health economy. This new version integrates Platos Intelligence—an AI-driven engine that converts complex health data into personalised, actionable insights, enhancing user experience and health outcomes.
Recent product enhancements focus on advanced body composition tracking and refined health goal-setting features, driven by research and user feedback to improve health monitoring precision and engagement. Notably, Platos Health devices are now available in leading pharmacy chains like Medplus and Justrite.
The growth of Platos Health is primarily driven by rising demand for home health monitoring among aging populations and those with chronic conditions. The startup's devices, including the Platos Body Monitor—a medical-grade smart device that measures up to 49 health metrics and connects with Platos Monitor software on various platforms—are priced affordably within the Nigerian market, with prices ranging between ₦80,000 ($50) and ₦120,000 ($80).
The Platos Health platform also integrates with popular health platforms such as Apple Health and Google Health Connect, further expanding its reach and usability. As emerging players like Platos Health continue to challenge traditional players, the global medical device market, currently valued at $678.88 billion, is projected to grow to over $1.1 trillion by 2034.
Platos Health is targeting Nigeria's underserved healthcare space with accessible, preventive care beyond conventional hospitals. By leveraging its latest funding, the startup aims to scale its innovative AI-powered preventive healthcare solutions, positioning itself as a leading player in Nigeria's health-tech ecosystem and contributing to broader improvements in health and wellbeing across the region.
Historically, African firms have had little presence in the medical device market. However, with the emergence of companies like Platos Health, this trend could change, bringing affordable, accessible, and innovative healthcare solutions to more people in Nigeria and beyond.
Science and technology intersect in the evolution of Platos Health, as the AI-driven health-tech startup aims to integrate artificial intelligence in addressing medical-conditions and promoting health-and-wellness. With the recent funding, Platos Health aims to scale its innovative AI-powered preventive healthcare solutions, potentially reshaping the global medical device market.
