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Chennai-based dental prosthetics start-up Dantech Digital Dental Solutions Pvt Ltd has raised ?21 crore ($2.5 million) in a funding round to drive its expansion. The investment will support the companys plans to boost domestic production, diversify its product offerings, and pursue acquisitions in the US to enhance its geographic presence and offshore more operations to India.
The funding round saw participation from notable investors, including Gunavanth Vaid, Unicornus Maximus, Shagun Capital Ventures, Wow Investments, Ten Eighty Investments, the promoter family of Tablets India, and a consortium of prominent dentists.
Founded in April 2023, Dantech operates from two locations: a manufacturing facility in Chennai and another unit in Denver, Colorado. The company specialises in producing dental prosthetics such as crowns, bridges, and caps for implants, offering custom-made solutions for patients specific medical needs.
CEO and Managing Director Varun Gunaseelan stated that the funds will be used for three primary purposes: expanding domestic production, diversifying the product line with new offerings like dental implants, desensitising gels, bleaching trays, and aligners, and exploring acquisitions of dental labs in the US. Dantech plans to ramp up its production from 200 units per day across 400 SKUs to 1,000 units daily at its Chennai facility.
The companys growth strategy also includes leveraging digital technologies to enhance production efficiency. By producing custom prosthetics in India and serving US customers, Dantech aims to offer cost-effective solutions for the increasing demand for dental services, especially in ageing populations.
Currently, 85% of Dantechs revenue comes from the US, with India still a developing market. The company projects revenue of over ?20 crore for the current fiscal year, with plans to achieve a run rate of ?5 crore per month by March, targeting an annual revenue of ?60 crore. |
