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Bengaluru-based dental care company MobiDent has reportedly raised an undisclosed amount in Pre-Series A round of funding. The investment was led by New York-based DanGold Investment Corp.
The raised funds will be used to expand in 12 new markets including metros and mini metros. Also, the startup is looking to hire 250 dentists and to strengthen cores such as digital technology, marketing & sales.
MobiDent was founded in January 2011 by Dr. Devaiah Mapangada and serial entrepreneur Vivek Madappa. It offers ‘Dental Clinic In Suitcase,’ which is an asset-light model designed to address the core challenges of the dental care industry; such as customer experience and high cost of dental services in India.
It basically provides in-budget dental care services to patients at home. The startup currently operates in Bengaluru, Pune, Mysore, and Ahmedabad.
“We are excited to bring on board DanGold Investment Corp who can help us fuel our next phase of growth. The funds will be used to expand our footprint across Mumbai, Delhi, Gurugram, Chennai and Hyderabad within the next three months,” said Vivek in an official statement.
As claimed, over the last two years, MobiDent has served 51,000 patients across 510+ companies. Also, it has partnered with 20 hospitals across Bengaluru, Pune, Mysore, and Ahmedabad.
In August 2016, IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) also invested an undisclosed amount in the startup.
Other startups in the same space are LifCare, HEAL Institute, Pianta, REmedio, Visit, Tiyo, Tricog, 1mg, Cyclops Medtech, DocsApp and more.
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