Private and public investors are injecting $2 million into a Canadian mobile health innovation that offers hope of preventing thousands of deaths and improving the health of expectant mothers, newborns and children throughout the developing world. LionsGate Technologies (LGTmedical), a Vancouver-based social enterprise, has secured its first major financial backers to scale up development of the Phone Oximeter™, an app and medical sensor that turns a non-specialist, community-level health worker’s smartphone, tablet computer or laptop into an affordable and simple but sophisticated medical-grade diagnostic tool, which is currently typically available in the developing world only in some hospitals. Mr. Irfhan Rajani, CEO of Vancouver-based Coleco Investments, leads a $1 million angel investment in the device, to be matched with a $1 million grant from Grand Challenges Canada – the first such investment under a new $10 million strategic partnership between Grand Challenges Canada and the Department of Foreign Affairs, Trade and Development Canada (DFATD). For more information, read the News Release issued on March 9, 2014. Follow LGTmedical on Twitter @lgtmedical.
Grant ID
TTS-0322-05-40
Show on Hub
On
Show on Spoke
Off
Follow-on Funding
Off
Lead Funding Organization
Challenge
Initiatives
Principal Investigator
Award Manager
Individual Funder Information
Funding Organization
Funding Amount (in original currency)
1000000.00
Funding Currency
CAD
Exchange Rate (at time of payment)
0.7500000000
Funding Amount (in USD)
750000.00
Project Type
Project Primary Sector
Funding Date Range
-
Funding Total (In US dollars)
750000.00
Co-Funded
False