Germany-based teeth-straightening technology provider PlusDental has picked up €32m ($35.4m) in a series C round led by insurance provider Ping An Insurance’s Global Voyager Fund.
Venture capital firms HV Holtzbrinck Ventures and Lakestar also took part in the round, the latter having previously invested $11.4m in the company in January 2019.
Formerly known as Sunshine Smile, PlusDental markets see-through, removable dental aligners (pictured) as an alternative to traditional braces.
Dentists take a 3D scan of the patient’s mouth to create a personalised treatment plan and the aligners are delivered directly to the patient. The company expects to benefit from Ping An’s expertise through its online healthcare services subsidiary, Ping An Good Doctor.
PlusDental will use the series C funding to further develop its technology and enter additional European markets, adding to an existing presence in Germany, Austria, Switzerland, Spain and the UK.
Marco Huesch, chief medical officer of Ping An Global Voyager Fund, said: “We are very pleased to lead PlusDental’s series C financing round.
“We are highly impressed by the way PlusDental combines its medical excellence with a high degree of digitalisation, thus making a valuable contribution to innovation and access to modern dentistry.”
Holtzbrinck Ventures and angel investors including Christian Vollmann and Roman Kirsch von Lesara supplied an undisclosed amount for the company in June 2018. Elephant & Castle Capital and Saarbruecker 21 both also list it in their portfolios.
Photo courtesy of PlusDental.
