# Sonic Incytes Medical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sonic-incytes-medical

- Industry: Medical Devices & Equipment
- Headquarters: Vancouver, Canada
- Website: www.sonicincytes.com
- Total disclosed funding: $9.8M
- Latest round: Series A (Dec 7, 2021)
- Investors on record: 13

## About

Sonic Incytes Medical Corp. is a medical technology company dedicated to the development of innovative diagnostic solutions for liver health, utilizing advanced AI-guided ultrasound technology for accurate assessments of liver conditions.Founded in 2017, Sonic Incytes Medical Corp. is based in Vancouver, Canada, and specializes in liver health diagnostics. The company was established by founders Robert Rohling and Tim Salcudean, and is currently led by CEO Barry Allen. Sonic Incytes has completed a total of 2 deals, with the most recent deal occurring on December 7, 2021, when it raised USD 7.3 million in a Series A funding round. This round was led by Nimbus Synergies, with participation from investors including Gaingels, INP Capital, MEDTEQ+, Mint Venture Partners, Nicola Wealth Management, and Wavemaker Three-Sixty Health.Sonic Incytes specializes in the development and commercialization of the VELACUR™ system, an AI-guided 3D S-WAVE ultrasound elastography device. This device measures critical indicators of fatty liver disease, such as liver stiffness and Velacur Determined Fat Fraction (VDFF). Employing 3D Shear Wave Absolute Vibro-Elastography technology, the VELACUR system enhances measurement depth and sample volumes compared to traditional methods. It is designed for quick, non-invasive assessments of liver health, serving healthcare providers in gastroenterology and hepatology, primarily in North America and Europe.Sonic Incytes generates revenue through the direct sale of its VELACUR™ system to healthcare facilities, including hospitals and clinics. The non-invasive nature of the assessments positions the device as an attractive option, promoting patient throughput that could lead to higher reimbursement rates from insurance. Revenue is structured around device acquisition and ongoing service agreements for maintenance, ensuring access to the latest technology and staff training.Sonic Incytes plans to utilize the USD 7.3 million raised in Series A funding to further develop its product offerings and expand into new markets. The company is focused on enhancing its VELACUR system and is exploring international markets to increase its presence beyond North America and Europe. These strategic initiatives aim to support growth and meet rising demand for effective liver health diagnostics.

## Funding rounds

- Series A, Dec 7, 2021, $7.3M — Nicola Wealth Management, Gaingels, Wavemaker Three-Sixty Health, MEDTEQ+, INP Capital, Nimbus Synergies, Mint Venture Partners
- Seed, May 28, 2020, $2.5M — Small World Group, Genome British Columbia, Sunhope Capital, World Changing Ventures Syndicate, Think Top Investments, TMFOX

## Investors

- Small World Group (https://capitalatlas.ai/funds/small-world-group) — Seed
- Genome British Columbia — Seed
- Sunhope Capital (https://capitalatlas.ai/funds/sunhope-capital) — Seed
- World Changing Ventures Syndicate — Seed
- Think Top Investments — Seed
- TMFOX (https://capitalatlas.ai/funds/tmfox) — Seed
- Nicola Wealth Management (https://capitalatlas.ai/funds/nicola-wealth-management) — Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A
- Wavemaker Three-Sixty Health (https://capitalatlas.ai/funds/wavemaker-three-sixty-health) — Series A
- MEDTEQ+ — Series A
- INP Capital (https://capitalatlas.ai/funds/inp-capital) — Series A
- Nimbus Synergies (https://capitalatlas.ai/funds/nimbus-synergies) — Series A
- Mint Venture Partners (https://capitalatlas.ai/funds/mint-venture-partners) — Series A