BEIJING, March 23, 2022 /PRNewswire/ -- In March 2022, Smartee announced that it has closed its Series D funding round of US$ 80 million. This round of financing was led by Beijing Taikang Investment, followed by China Resources Consumer Fund II, Jiaxing Science City, Zhangjiagang Industrial Investment etc. and some existing shareholders. This round of financing will accelerate Smartee's industrial layout in the field of invisible orthodontics, promote the continuous R&D and innovation of invisible orthodontic technology, strengthen brand building and team development, and advance the further expansion of the market share of its core products in domestic and overseas markets.
Smartee Raises US$ 80 Million In Series D Funding
Founded in 2004, Smartee focuses on the R&D of original technology in digital invisible orthodontics as well as medical design, manufacturing, sales and services for customized clear aligners. Smartee has medical design centers with a team of hundreds of staff and built self-developed whole process automatic intelligent manufacturing bases in Jiaxing, Zhejiang Province and Ziyang, Sichuan Province (Chinese Dental Valley). Smartee has designed more than 500,000 cases up to now and produced over 10 million invisible aligners annually to serve doctors and consumers around the world. Smartee is one of the leading brands in the invisible orthodontics industry in China and the top Chinese provider of clear aligners with the largest market share overseas, expanding its business to markets including the USA, Canada, Columbia, Mexico, UK, Spain, Portugal, Saudi Arabia, Egypt, Australia, Singapore, Philippines and Thailand etc.
From Angel to Series D funding, over the past 18 years, Smartee has achieved fruitful results in many fields, such as new clinical technology, new classification of diagnosis, clear aligner materials, big data and algorithms, digital simulation technology, intelligent manufacturing and so on. As of February 2022, more than 530 patents have been applied for domestic and abroad. The number and quality of patents are ahead of its domestic counterparts. Smartee has become one of the well-known high-tech enterprises with innovation and growth in the dental industry.
Talking about the future, Mr. Yao Junfeng, the founder of Smartee, said "Smaree has received the capital investment from RZJ Capital for the Angel Round in 2013, the Series A investment of CS Capital and KaVo in 2015, the Series B investment of bioVENTURE and CD Capital in 2017, and the Series C investment of CICC Capital, Neovision Capital, Costone Capital and Qianhai FOF in 2019. The company carefully manages the financing rhythm and focuses more on growing the company with business revenue. The completion of the Series D funding will undoubtedly further accelerate Smartee's development and support our strategic layout. As a fast-growing Chinese Clear Aligner brand, Smartee will continue to invest in the R&D of invisible orthodontic technology, strive to inject more innovative ideas and energy into the industry, and enable more consumers to enjoy the cutting-edge invisible orthodontic technology."
Mr. Huang Shengxuan, CEO of Beijing Taikang Investment, said "After more than ten years of accumulation, Smartee Denti-Technology has established a solid leading position in the industry and maintained a growth rate far exceeding that of the market. On the basis of the deep technical cooperation between Smartee and Taikang Bybo, we will continue to promote the business cooperation among Smartee, Taikang Insurance and Taikang Bybo, and jointly create a new ecological model of mutual synergy among insurance, oral medicine and dental innovative technology."
Mr. Wang Xin, General Manager of China Resources Consumer Fund II, said "The rapid growth of Smartee's case accumulation in recent years is the evidence that the potential of the orthodontic industry is rapidly being released. The fund team is honored to join hands with Smartee team to participate in the development of the national invisible orthodontic industry. I believe that under the leadership of founder Mr. Yao Junfeng, Smartee will become an important player in global orthodontic industry. Together with professional doctors in the industry, Smartee will strive to create greater development opportunities and provide better orthodontic services for patients around the world."
For more information, please visit the company's website at www.smartee.uk.
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