Singapore dental products start-up receives $13m Series A
Zenyum, a Singapore-based manufacturer of 3D-printed cosmetic dental products, has raised $13.6 million in Series A funding from RTP Global, Sequoia Capital India, TNB Aura, and Seeds Capital.
RTP Global, originally known as ru-Net, is a venture capital firm established by Russian entrepreneurs, while TNB Aura targets early-stage deals in Southeast Asia and Australia. Seeds Capital is an investment unit of Enterprise Singapore, a government agency. Its portfolio also includes Structo, another Singapore 3D printing start-up focused on dental products.
Founded last year by Julian Artopé and Frederik Krass, Zenyum was part of the inaugural class at Surge, Sequoia’s accelerator program in India and Southeast Asia. The company’s flagship offering is 3D-printed invisible braces, but it is looking to expand into retainers and teeth whitening.
Customers go through an online pre-assessment of their suitability for treatment and then visit one of Zenyum’s partner clinics for a 3D intraoral scan to create a set of customized braces. An app provides monitoring and guidance throughout the process.
The company has over 100 staff and operates in Singapore, Hong Kong, Malaysia and Thailand. Expansion into Vietnam, Indonesia and Taiwan is currently underway. It claims to have treated thousands of cases over the past year, with revenue growing 20-30% month-on-month. Most customers are upwardly mobile millennials who have recently entered the workforce.
“Zenyum has gained impressive traction in a short period of time, which really underscores the strength of their vision and business model. We’re impressed at how quickly they’ve put together such a strong partner network, the depth of local market insight and the high level of customer love driven by a near 100% success rate of the aligners,” said Galina Chifina, a partner at RTP, in a statement.
Structo received a funding round of undisclosed size in October from GGV Capital, Wavemaker Partners, Pavilion Capital, and EDBI. Seeds participated in a $3 million round in 2016. The company, which was founded as a project at the National University of Singapore in 2014, also specializes in clear aligners.
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