MobiDent, Bangalore based dental-care company has recently secured its Pre Series A round of funding. The investment came from DanGold Investment Corp, A NewYork based investment company. The financials of the deal were not disclosed.
The startup plans to fund its expansion plan with the latest fund-raise. MobiDent is looking to launch itself in 12 new cities including metros and mini-metros. Along with expansion, it is looking to hire over 250 new dentists to strengthen the team as well as have more options in marketing and sales departments.
Founded in January 2011 by Dr. Devaiah Mapangada and Entrepreneur Vivek Madappa, MobiDent looks to challenge the highly costly dental industry in India by “offering dental clinic in suitcase” to provide highly satisfactory customer experience with its asset-light model.
Providing affordable dental care services at home, the startup is currently operational in Bangalore, Pune, Mysore and Ahmedabad.
Speaking on the development, Vivek stated his delight on DanGold coming on board as an investor and said that the investor can fund their next stage of growth. He further added that the startup is looking to grow in the newer markets such as Gurugram, Mumbai, Delhi, Chennai and Hyderabad in next 3 months.
MobiDent claims to have served over 51,000 patients in 500+ companies. Along with providing standalone services, it has partnered with over 20 hospitals in the cities where it is currently operating.
Before this, in August 2016, IIM Ahmadabad’s CIIE (Center for Innovation Incubation and Entrepreneurship) had also invested an undisclosed amount in MobiDent.