Chromatic Inc.
- Industry
- Medical Equipment and Supplies Manufacturing
- Founded Year
- 2021
- Headquarters
- 295 Lafayette Street, Suite 701, New York, NY 10012-2722, United States
- Employee Count
- 11
Key People
- Matthew de Jonge - Co-Founder & Chief Executive Officer
- Cole Morris - Co-Founder, Chief Operating Officer & Chief Financial Officer
- Andrew Casper Ph.D - Co-Founder & Chief Technology Officer
- Igor Lovchinsky Ph.D - Co-Founder & Chief Scientific Officer
- Keith Fife Ph.D - Advisor
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The founding team comprises individuals with over a decade of experience in their respective fields, bringing a wealth of knowledge to the company.
The leadership team includes seasoned professionals such as Matthew de Jonge (CEO), Cole Morris (COO & CFO), Andrew Casper Ph.D (CTO), and Igor Lovchinsky Ph.D (CSO), each bringing significant expertise to their roles.
- Clinical Need
-
Aspect: Good
Summary: The company's focus on integrating technology into healthcare equipment addresses a notable need in the medical device industry.
Chromatic Inc. aims to enhance healthcare equipment through technological integration, targeting improvements in medical device functionality and patient outcomes.
- Competition
-
Aspect: Somewhat crowded
Summary: The medical equipment manufacturing sector is moderately competitive, with several established players.
Chromatic Inc. operates in a market with multiple competitors, necessitating unique value propositions to capture market share.
- Technical Challenge
-
Aspect: Moderate
Summary: The integration of advanced technology into medical devices presents a moderate level of technical complexity.
Developing innovative medical equipment involves addressing technical hurdles related to design, functionality, and compliance with medical standards.
- Patent
-
Aspect: Strong
Summary: The company holds a robust patent portfolio, indicating a strong focus on innovation and intellectual property protection.
Chromatic Inc. has been granted multiple patents, including those related to neural network chips for ear-worn devices and methods for enhancing speech in real-time conversations.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, providing a solid financial foundation for operations and growth.
Chromatic Inc. raised $25 million in a Series A funding round, backed by investors such as Founders Fund, Good Friends, Lux Capital, Optum Ventures, and Thrive Capital.
- Regulatory
-
Aspect: Concept Stage
Summary: The company is in the early stages of product development, with regulatory approvals yet to be pursued.
As a recently founded company, Chromatic Inc. is likely in the concept or early development stages, with plans to navigate regulatory requirements as products mature.
Opportunity Rollup
- Odds of Success
- 3.75
- Peak Market Share
- 5.3
- Segment CAGR
- 4.5%
- Market Segment
- Medical Equipment Manufacturing
- Market Sub Segment
- Hearing Aids and Assistive Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.80 |
| 3 | 1.86 |
| 4 | 3.71 |
| 5 | 5.30 |
Key Takeaway
Chromatic Inc. is a well-funded startup with a strong leadership team and patent portfolio, positioned to innovate in the medical device sector, particularly in hearing aids and assistive devices.