The direct-to-consumer brand already operates in the UAE, KSA, Kuwait, and Bahrain, and is aiming to expand operations in six new markets in 2021.
Smileneo, a UAE-based healthtech start-up, announced that it has raised $2 Million in seed funding. According to the company, Smileneo’s financing is the largest seed round raised by any teeth-straightening direct-to-consumer business in the Middle East and North Africa and includes anchor investments from several prominent international investors. Smileneo will use the funds to grow its team, expand operations, and enter new markets.
London-based Kingsway Capital, one of the region's largest investors, and an early investor in unicorn Emerging 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 also participated in the round including Mato Peric (CARS24, Scalable Capital, Loft etc.), Leonard Stiegeler (Pulse, Paystack, etc.), and Tom Stafford (Managing Partner at DST Global).
Smileneo’s mobile application enables remote monitoring which allows partner clinics to provide personalized, on-demand treatment oversight and saves patients from having to make frequent, time-consuming, and costly clinic visits. By fully digitizing the patient journey, using end-to-end 3D technology and offering financing plans, Smileneo is enabling a new segment of consumers to straighten their smiles. In turn, Smileneo’s growing network of partner clinics in the region benefit from increased practice receipts while offering high-quality, fully digitized patient experiences anytime, anywhere at a more affordable cost.
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 average. 6 months to complete their treatment.
“Based on our research, 85% of people in the region could benefit from orthodontic treatments, but less than 1% receive it each year. Many of them don’t have access to quality orthodontic care that fits their budget and busy lifestyles. We’re digitizing orthodontics to modernize and improve patient experiences while enhancing convenience and affordability. Our mission is to give everyone a straighter and brighter smile with less of the cost and hassle of traditional dental-office driven treatment," said Dr. Jonathan Doerr, Founder and Chief Executive Officer of Smileneo.
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, use 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 personalized treatment plan.