MobiDent, a Bangalore based dental care company that provides inexpensive dental care by dentists at home has raised a round of Pre Series A funding from New York based DanGold Investment Corp. The funds will be utilised towards rolling out home dental services in 12 new markets that include metros and mini metros. With the current round, MobiDent will hire 250 dentists and invest in strengthening digital technology, marketing & sales.
Started by Dr Devaiah, a dentist with over 20 years of experience, and Vivek Madappa, a serial entrepreneur, MobiDent’s “Dental clinic in a suitcase” is the first and one of its kind innovation that aims to make oral hygiene and preventive dental protection inexpensive and delivered at homes.
In Nov 2015, MobiDent was shortlisted as one among the Top 10 ideas out of 19,000 startup ventures by “Economic Times Power of an Idea” competition. In March 2016 MobiDent was awarded the best startup idea by Royal Academy of Engineering London. Earlier in August 2016, MobiDent secured funding from IIM- Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE).
Vivek Madappa, CEO and Co–Founder, MobiDent said “In the 21st century health care delivery must be designed to be inexpensive and easily accessible. The traditional model of health care delivered only at hospitals & clinics is not economically sustainable due to very high real estate & infrastructure costs. Also the traditional model of revenue share with doctors leads to ethical conflicts. The time is right for disruptive innovation using digital technology and portable equipments.”
Over the last 2 years MobiDent has been able to create a need for oral hygiene & preventive dental care among the educated and health conscious consumers with its awareness campaign “good health begins with the health of the mouth”
“We are excited to bring on board DanGold Investment Corp who can help us fuel our next phase of growth. The investment will enable us to enhance our technology platform, strengthen marketing & sales and hire 250 dentists across the country. The funds will also be used to expand our footprint across Mumbai, Delhi, Gurgaon, Chennai and Hyderabad within the next three months” added Vivek.
In India the state of the dental industry is appalling. In the Metro towns, the ratio of a dentist to population is 1:20,000 and in rural areas it is 1: 3,00,000. Every year 30,000 dental students graduate. Yet, unlike other professional courses, there is no organised industry or company waiting to hire them. MobiDent was started with an aim to create an organised industry for dentists. In the next three years, MobiDent plans to hire 3000 dentists and train 1000 dental hygienists
Ashu Chahal, Managing Partner, DanGold Investment Corp added “MobiDent is fulfilling a large unmet need with its disruptive home delivery business model. We believe the highly talented team at MobiDent will revolutionize the dental ecosystem in India”
MobiDent’s business model has been executed across three verticals – Homes ; Corporates and hospital chains. Over the last 24 months, Mobident has served 51,000 patients across 510+ companies and has partnered with more than 20 hospitals across Bangalore, Mysore, Pune and Ahmedabad.
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