Cosmetic dentistry startup raises US$13.6m for regional expansion from RTP Global, Sequoia Capital India, TNB Aura and others
Source: Business Times
COSMETIC dental startup Zenyum on Thursday said it has raised US$13.6 million for its Series A funding round, bringing the total funding raised to US$16.1 million.
The latest round was led by RTP Global, with participation from Sequoia India, TNB Aura, Enterprise Singapore's investment arm SEEDS Capital and other investors.
Earlier this year, Zenyum secured a US$2.5 million investment from Sequoia India's early-stage startup accelerator programme Surge and other investors.
The company now has over 100 team members across the region, with a 20 to 30 per cent month-on-month revenue growth, it said in a press release.
Founded in 2018, Zenyum is currently operating in Singapore, Malaysia, Hong Kong and Thailand. It supplies invisible braces at a lower cost than traditional alternatives and does follow-up checks via an app.
The Singapore-based startup will use the funds raised to expand into other countries in the region including Indonesia, Vietnam and Thailand, as well as extend its product line to include retainers and teeth whitening, among others.
Through a pre-assessment conducted through the startup's website, candidates are assessed by a panel of orthodontists and dentists to determine if they are suitable for these invisible braces.
Founder and chief executive Julian Artopé said only about 35 per cent of applicants are approved for their treatment, as Zenyum can only treat mild to moderate cases in adults above 18 years.
Suitable candidates can then visit one of its partner clinics for a 3D intraoral scan by a local doctor, to create a set of customised invisible aligners.
"With this funding round, we are ready to build on the momentum we've seen this year and double down on our mission to help Asia smile more," said Mr Artopé.