[Funding alert] MyDentalPlan raises $700K in seed funding from Safe Planet Medicare
Bengaluru-based MyDentalPlan Healthcare has secured a seed funding of $700,000 from Safe Planet Medicare LLP.
Started in February 2015 by three dentists — Dr Mohender Narula, Dr AnandKrishna, and Dr Girish Rao, MyDentalPlan aggregates dental service providers and dentists through a system of detailed audits and checks.
In a statement, the company said that having made significant inroads in the wholesale market, MyDentalPlan is now planning to foray into the retail business. The company says that the funding will help it realise the significant marketing push and make a momentous shift in the oral healthcare space.
Dr Mohender Narula, Founder and Chairman, MyDentalPlan Healthcare Pvt Ltd said,
"MyDentalPlan has been committed to bringing in a culture of preventive oral care in India. This funding will give a much-needed fillip to the company in realising the vision of the company. Having started this venture as bootstrapped, we are highly fortunate to have support from such good seed-stage investors in India. We hope to continue bringing smiles on millions of faces."
In its statement, MyDentalPlan claimed that it has seen dramatic growth in the past few years and has enrolled more than 3,500 verified dentists in 1,000-plus audited clinics to offer the best dental care. It is currently present in over 150 cities in India and has been clocking 2X growth year on year.
The company will be using this funding to increase its market penetration, enhance its services, and improve the dental health of millions of Indians. Today, the company works with many well-known brands in India, including Aditya Birla group, Religare, Cisco, Medi Assist, IBM, Infosys, Sabre Tech, UHC, and many more.
“Poor oral health is often a lifestyle disorder. With MyDentalPlan, we want to bring dental healthcare as more of a mainstream topic. Now more than ever, consumers value transparency and quality service. Right from the start, MyDentalPlan, through its customer-centric approach, looked at plugging in the lacunas in the Indian dental space. The strong support from our investors validates the important value our service brings to people and we will be using these funds to fuel in the next phase of growth,” said Harminder Singh Multani, CEO of MyDentalPlan Healthcare Pvt. Ltd.
MyDentalPlan strives to be a household name in the dental space and is formulating plans to expand its footprint to 5,000 more clinics by 2021. During the same period, the company has chalked out plans to increase its presence to 250 cities.