NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Sindhu Kashyaap

Healthcare startup Smiles.ai has raised $23 million in Series A funding led by Alpha Wave Incubation (AWI). The round also saw participation from existing investors Sequoia Capital India and Chiratae Ventures.

Other investors in the round include MBX Capital, Wami Capital and angel investors Peyush Bansal and Amit Chaudhary, Co-founders, Lenskart; Aakrit Vaish, Co-founder and CEO, Haptik; Revant Bhate, Co-founder, Mosaic Wellness; Miten Sampat of CRED; and Sambhav Rakhyan, MD, WTW. Smiles.ai marks US-based healthcare-focused fund MBX Capital’s first investment in India.

Smiles.ai will deploy this funding towards expanding its footprint nationally, strengthening the leadership team, and building innovative tech-driven dental care solutions.

“India’s dental care market has remained highly fragmented and without any significant technological disruption for decades. However, now with increasing awareness, increasing disposable income, and rising millennial aspirations, the industry is going through a transition and we are leading this change in India by combining dental care, operations, and technology expertise, ” said Hitesh Kakrani, Co-founder, Smiles.ai.

Photo courtesy of NEC Corporation of America.