L Catterton leads $40m Series B for Singapore's Zenyum
L Catterton has led a $40 million Series B round for Singapore’s Zenyum, a company that makes 3D-printed dental products.
The consumer-focused private equity firm contributed $25 million to the round. Existing investors Sequoia Capital India, RTP Global, Partech, TNB Aura, Seeds Capital, and FEBE Ventures also participated. It follows a $13.6 million Series A in 2019 and a $1.5 million seed round earlier the same year from Sequoia’s Surge accelerator.
Zenyum leverages a network of dentists numbering in the hundreds to provide end-customers with personalized products such as clear aligners and braces. Every patient has an in-person consultation, including an x-ray and 3D scan in order to customize treatment. Monitoring and guidance are facilitated throughout the process by a mobile app.
The plan is to leverage perceived structural tailwinds in the mass-market dental cosmetics category, expanding across Asia while developing new technology and products. The current offering includes several branded items such as ZenyumSonic, an electric toothbrush said to achieve improved performance with ultra-fast vibrations. The company claims to have increased revenue 4x during 2020.
“Fueled by aesthetic-conscious millennials, the affordable dental cosmetics market in Asia is growing rapidly, and Zenyum has the potential to become the regional champion in this category,” Anjana Sasidharan, head of growth investments at L Catterton Asia who will be joining the company's board, said in a statement. “Zenyum's differentiated business model gives it a strong competitive advantage.”
US-headquartered L Catterton claims to be the world’s largest consumer-focused private equity firm with $27 billion of equity capital across its fund strategies and 17 offices globally. Its Asian operations are headquartered in Singapore with support offices in Hong Kong, Mumbai, Shanghai, Sydney, and Tokyo.
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