Indian Dental care startup Smiles.ai raises USD 23 million in Series A round

Smiles.ai, an Indian Healthcare startup, has raised USD 23 million in a Series A funding round led by Alpha Wave Incubation (AWI) on 23 January 2022.

Investors: Alpha Wave Incubation (AWI) led the latest funding round with participation from MBX Capital, Wami Capital and angel investors Peyush Bansal and Amit Chaudhary, Co-founders, Lenskart; Revant Bhate, Co-founder, Mosaic Wellness; Miten Sampat CSO, CRED; Aakrit Vaish, Co-founder and CEO, Haptik; and Sambhav Rakhyan, MD, WTW. In addition, the existing investors including Sequoia Capital India and Chiratae Ventures contributed to the round. Smiles.ai marks MBX Capital’s (a US-based healthcare-focused fund) first investment in India.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its footprint nationally, strengthen the leadership team, and build innovative, tech-driven dental care solutions.

About Smiles.ai

Founded in 2019 by Dr. Jatin Kakrani and Hitesh Kakrani, Smiles.ai  leverages proprietary technology and expert healthcare professionals to offer access to high-quality and cost-effective dental care products and services. The startup sources authentic Dental materials & Implants directly from the manufacturers or importers, which helps it ensure the best quality Dental material at 20-30% lesser cost and enables it to serve patients at reasonable prices while following the highest quality standards. The platform provides a range of services through online consultation, clinic networks, and at-home services. With more than 100+ specialist doctors, Smiles.ai serves over 3,000+ patients and conducts 5,000+ diagnoses every month across Delhi-NCR, Bangalore, Pune, and Indore.

What the Founder has to say: 

“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 dental care, operations, and technology expertise, ” said Hitesh Kakrani, Co-founder, Smiles.ai.

What the Investor has to say:

Speaking on the investment, Anirudh Singh, Managing Director, Alpha Wave Incubation, said, “Given the massive opportunity in the dental care space in India and abroad, we were very impressed with the Smiles.ai’s approach in establishing a comprehensive offline base of dentists and building an aligners business on top of that. Using technology as a key driver and differentiator, Smiles is poised to disrupt the market and establish itself as a market leader while maintaining its capital efficiency. Lastly, we believe the opportunity here is global, and we will work with the company to take them to other markets such as the Middle East and North Africa.”

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