MobiDent Co-founders Vivek Madappa (L) and Dr. Devaiah
MobiDent, a Bangalore-based startup providing dental care services at home, has raised an undisclosed sum in pre-Series A funding from New York-based DanGold Investment Corp.
“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,” said Co-founder and CEO Vivek Madappa.
Started in 2014 by Dr Devaiah, a dentist with over 20 years of experience, and serial entrepreneur Madappa, MobiDent through its “dental clinic in a suitcase”aims to make oral hygiene and preventive dental protection inexpensive and delivered at homes.
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“In the 21st century, healthcare delivery must be designed to be inexpensive and easily accessible. The traditional model of healthcare delivered only at hospitals and clinics is not economically sustainable due to very high real estate and 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 equipment,” Madappa added.
MobiDent’s business model has been executed across three verticals — homes, corporates and hospital chains. Over the last 24 months, it has served 51,000 patients across 510-plus companies and has partnered with more than 20 hospitals across Bangalore, Mysore, Pune and Ahmedabad.
In the next three years, MobiDent plans to hire 3,000 dentists and train 1,000 dental hygienists.
In India, the state of the dental industry is appalling. In metros, 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.
Targeting family dental care, MobiDent offers “Healthy Teeth Healthy Family” dental protection plan at Rs 2,750 (US$41) per annum for a family of five. The annual plan also includes a ‘mouth spa’ twice a year. It includes deep cleaning, plaque and tartar removal using titanium-tipped ultrasonic painless scaler.
ModiDent has earlier received cash injection from IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship.