UAE health tech start-up Smileneo raises USD $2 Million in Seed Funding
Dubai, United Arab Emirates: Smileneo, a homegrown UAE-based health tech start-up announces receiving USD $2 Million in seed funding led by international investor Kingsway Capital, one of the Middle East and North Africa’s largest investors. Smileneo’s financing is the largest seed round raised by any teeth-straightening consumer marketplace from the region and includes anchor investments from several prominent international investors. Smileneo will use the funds to grow its team, expand operations, and enter new markets across the Middle East.
Identified for its strong team and successful business model, a strong line-up of prominent investors are backingSmileneo. London-based Kingsway Capital an early investor in unicornEmerging Markets Property Group, is leading the round. FJ Labs, a fund led by José Marin and Fabrice Grinda, founder of OLX Group joined the round. Several strategic global super angels, many of whom are investing in the MENA for the first time, also participated in the round including Mato Peric (CARS24, Scalable Capital, Loft etc.), Leonard Stiegeler (Pulse, Paystack, etc.), and Tom Stafford (Managing Partner at DSTGlobal).
Founded by Dr. Jonathan Doerr, Smileneo links users with dental clinics which provide safe, effective, doctor-prescribed and monitored clear aligners to transform their smiles. Smileneo’s business model supports local clinics by sending cases to certified orthodontists. Through Smileneo, local clinics increase their business as patients get directed to them, making it a sustainable concept for the dental ecosystem.
Its partner network, which includes the region’s top licensed orthodontists, is committed to making clear aligner treatments affordable, convenient, and accessible to everyone. Smileneo’s partners offer custom-fit aligners priced around 65% lower than traditional clear aligners with treatments taking on average 6 months.
“Our goal is to provide everyone with access to a straighter and brighter smile. We’re working with healthcare regulators across the region to become the first licensed telehealth marketplace providing contact-light orthodontic treatments at the touch of a button. Based on our research, more than 85% of people in the Middle East and NorthAfrica could benefit from orthodontic care, but less than 1% receive it each year. Cost and convenience are the biggest reasons our users cite for not obtaining orthodontic care.” said Dr. Jonathan Doerr, Founder and Chief Executive Officer of Smileneo.
Through fully digital processes and end-to-end 3D technology, Smileneo enables a contact-light and affordable, yet high-quality approach to dental care, enabling a new segment of consumers to straighten their smiles. In turn,Smileneo’s growing network of partner clinics benefit from increased practice receipts and a digitized high-quality, efficient patient experience.
HOW SMILENEO WORKS
Smileneo users start their smile journey with a quick online assessment that involves uploading photos of their teeth. Approved users then book a doctor consultation with the closest Smileneo dental partner. Smileneo’s partner network, which includes the region’s top orthodontists, uses 3D intraoral scanners and panoramic dental X-rays to ensure a high-quality orthodontic treatment. The 3D smile preview, a 3D simulation of what the patient’s new smile will look like, is the base of the personalised treatment plan. Supported by Smileneo’s unparalleled customer service, patients receive custom made 3D printed clear aligners within 1 week. Smileneo is priced around 65% lower than traditional clear aligner solutions and offers financing plans. Patients take on avg. 6 months to complete their treatment.
Smileneo operates theMENA’s leading telehealth marketplace linking patients to dental clinics providing affordable and convenient teeth straightening. By making high-quality orthodontics accessible to everyone, it brings new patients to its network of orthodontic partners which offer custom-fit, durable, BPA and phthalate-free clear aligners.