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Clinical beauty platform makeO has acquired a teledentistry platform, Smileneo. In response to the growing tech adoption for orthodontic care, Asia's makeO and MENA's Smileneo, both direct-to-consumer teeth-straightening platforms are joining forces. Founded by Dr. Jonathan Doerr, Smileneo and its orthodontic partners offer safe and effective doctor-prescribed and monitored clear aligners to straighten teeth for beautiful smiles. Launched in 2020, Smileneo has served thousands of patients through a network of more than 30 licensed partner orthodontists in the United Arab Emirates, Saudi Arabia, Bahrain and Qatar.
The economic pressures and the opportunity for consolidation led to a number of international players entering the MENA region in 2022. The year saw the highest M&A activity for the region as MENA-based startups recorded 70 exits, read more in our FY2022 MENA Venture Investment Report. Among these were some notable cross-market M&A plays including US-based JumpCloud acquiring Lebanon's digital identity management solutions provider Myki, Canada’s digital investigation software Magnet Forensics acquiring Dubai-based Comae Technologies, a cybersecurity firm, and Mexico’s pre-owned car platform and unicorn, Kavak, entering the GCC with a $130M investment after merging with regional player Carzaty.
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makeO, India’s U.S. FDA approved B2C aligner company, is an innovative tech-enabled brand that offers at-home ‘aesthetic makeovers’, i.e. oral and skin care services via its brands toothsi and skinnsi. makeO says it has created an ecosystem of established orthodontists, dentists, and dermatologists that are working to revolutionize the way in which services such as teeth alignment, teeth whitening, laser hair removal and derma-facial treatments are performed outside a clinical setup. Dr. Arpi Mehta, CEO & Co-Founder, makeO added: “Having garnered strong market leadership in the Indian selfcare industry, we are now prepared to extend makeO’s product & technology expertise to the global audience. Smileneo’s high-quality medical and tech-driven approach, as well as its footprint and expertise in the region will accelerate our growth ambitions and materialize our vision to expand beyond India. With this acquisition we will not only be able to enter the Middle East, but also have a basis for further expansion to South Asia & Africa.”
The companies say the combined entity aiming to become the largest clinical beauty technology platform across the markets, with the scale to match consumers' demand. Dr. Jonathan Doerr, CEO & Founder, Smileneo commented: “We are very excited to work together with makeO and for this opportunity as both companies share the vision of building a high-quality clinical beauty technology platform. MakeO’s vast experience and production capabilities will not only elevate our business and help our partner clinics reach the next level, but also allow us to venture into new areas of telehealth in addition to our established orthodontics practice.”
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