Smiles.ai Raises $23 Million in Series A The funds will be utilized to expand footprint nationally, strengthen the leadership team and build innovative tech-driven dental care solutions
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Smiles.ai, a healthcare startup, has raised $23 million in Series A funding led by Alpha Wave Incubation (AWI), which is backed by DisruptAD, ADQ's venture platform and managed by Falcon Edge Capital with strong participation from existing investors Sequoia Capital India and Chiratae Ventures. Other investors were MBX Capital, Wami Capital and angel investors.
Smiles.ai will deploy this funding towards expanding its footprint nationally, strengthening the leadership team and building innovative tech-driven dental care solutions.
"India's dental care market has remained highly fragmented and without any significant technological disruption for decades. However, now with increasing awareness, increasing disposable income and rising millennial aspirations, the industry is going through a transition and we are leading this change in India by combining dentalcare, operations and technology expertise," said Hitesh Kakrani, co-founder, Smiles.ai.
The dental care industry in India is projected to be a $15 billion opportunity by 2023 and is growing at 20 per cent CAGR, said a statement.
"Technology adoption and digitization will lead the transformation of dental practice putting patient convenience and comfort at the centre in delivering products and services. We are excited to continue our support to the vision put forward by the team at Smiles.ai," said Ranjith Menon, managing director, Chiratae Ventures.
Smiles.ai is building India's largest and most trusted dental care brand by leveraging technology to provide easy credible access via digital interface and standardized delivery via a network of dental clinics. The platform offers cost-effective service delivery through mobile-enabled digital diagnosis, added the statement.
