Jordan-based Eon Dental secures $26M
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The Jordan-based dental technology startup Eon Dental has successfully raised $26M in its latest funding round. The Series B round was led by a large international MedTech fund together with Arab Palestinian Investment Company, otf Jasoor Ventures, Endeavor Catalyst, Spartech Ventures, and Bank al Etihad joined by existing investors Hummingbird Ventures and Silicon Badia.
Founded in 2011, Eon Dental is a full-service clear aligner company with a worldwide distribution network and reputation for exceptional clear aligner products. Eon combines high-quality manufacturing services with a comprehensive, clinician-centric software solution, enabling their customers to offer high-quality clear aligners, a great user experience, and fast turnaround times - all under the customer’s own brand.
The Healthcare industry in MENA was one of the few industries to observe an instant impact from the global pandemic, reaching an all-time high in VC funding in 2020 growing 4x compared to the year before. This shed light on the need for Tech integration in MENA’s healthcare industries, where Egypt took the lead in most capital invested in Healthcare by Q3’21 with startups like pharmaceuticals marketplace Yodawy and IoT-integrated patient management solutions platform SoTech raising major rounds this year. While virtual consultation platforms across MENA like Cura, AI-driven Doctori, Estshara, and Sihaty raised the lion’s share of funds by the third quarter of the year as recorded in our Q3 2021 EVM Healthcare Investment Report, Aesthetic and Cosmetic focused startups like Smileneo and Selfologi also closed market positioning rounds.
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As a leading clear aligner provider to dentists and orthodontists in the MENA region, Eon has also established a foothold in the clear aligner market under the Eon Aligner brand. This clinical insight and technological advancement is paving the way for one of the best white-label solutions for customers around the globe.“Since founding the company, we have been mission-driven to provide quality orthodontic solutions to our customers so that everyone has access to a beautiful smile,” said Qais Sabri, Co-Founder, and CEO, Eon Dental. “We are excited to partner with this well-regarded group of investors and we appreciate their support in advancing our mission to impact the lives of as many people as possible.” The OEM market is extremely underserved and Eon Dental has developed a flexible enterprise solution that offers compelling value,” said Eon’s lead investor. “Eon’s world-class innovations in rapid manufacturing of clear aligners and integrated clinical care solutions deliver a better experience for customers at a lower total cost. We’re excited to support this industry-leading team through the next phase of growth.”
The Kingdom of Jordan is committed to supporting digital entrepreneurship, as it is a key driver for employment and economic growth. The startup will channel its newly acquired funds to fuel Eon’s next chapter, further advancing its manufacturing automation and clinical services capabilities, investing and innovating in its enterprise and clinical software solutions, and strengthening its commercialization and distribution. “It is exciting to see a Jordanian startup mature an organization and make the transition to become a global player,” said Ahmad Hanandeh, Jordanian Minister of Digital Economy and Entrepreneurship. “Eon receiving regional and international investor recognition reaffirms what Jordan has to offer in terms of talent, capabilities and entrepreneurial spirit.”
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