Leixir, a services company which manages a dental labs chain in North America through its group companies, announced that it has raised a round of series A funding from IvyCap Ventures. Leixir’s group companies in US and Canada have demonstrated a successful track record of acquisitions and integration model of dental labs in North American markets and the group is well poised to roll out the model at a significantly larger scale.
Mr. Harmeet Bindra, Founder and CEO of Leixir said,
Leixir has built for its group companies standardized processes across the interconnected labs with best-in-class practices. The Hub and spoke business model of Leixir’s group companies combines touch and technology with scale efficiencies to be the most cost efficient, one stop solution provider to the dental offices in North America. We are excited to have IvyCap Ventures as our investment partners as we truly believe that they would add great strategic value in achieving our growth plans
IvyCap Ventures leverages the network of IITians across the globe to create value in its portfolio companies. The Fund has a unique philosophy to give back part of its profits to the leading educational institutions, an approach that strengthens its alumni networks further. It invests in start-ups and growth stage companies across sectors including technology, education, energy, healthcare and agriculture. IvyCap Ventures has recently invested in Reuters Market Light, Aujas Networks, FieldEz and Vinculum.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures mentioned, “As the Indian Dental market is getting more organized, it is the right time for organizing value in the developed markets and then leveraging that for the Indian market. We are excited to partner with Leixir, which has demonstrated the capability to acquire, integrate, and build scale efficiency with speed and precision. In addition, we are also looking forward to adding significant value to Leixir through our network across the Alumni of IITs and IIMs.”