Mavrik Dental Systems, an Israel-based dental care startup, has nabbed $30 million Series A funding from a Hong Kong-based healthcare-focused venture capital firm, Ally Bridge Group. The startup is first of its kind and planning to use this latest funding to relocate its commercial operations to the US. Besides, the startup will keep its product development center in Israel.
Dr. Daniel Sanders is an alumnus of Columbia University College of Dental Medicine, has more than 20 years of dental practice besides, he holds over 40 international patents on a variety of dental devices. In 2012, Daniel founded Mavrik Dental System with the mission of providing a real-world perspective to deliver prime in-office treatment to patients and to develop automated dental devices. It is a combination of Israeli technology with the Sales & Marketing leadership of the US by merging abilities and commercial expertise.
To upgrade the efficiency, patient experience, and procedural virtues, the startup uses automated dental therapies to return OTC solutions to professional care. Mavrik’s Thera-Smile™ is the first and advanced product that is a fully automatic system in the area of Tooth Whitening. Besides, this device has cleared all the standards of the US Food and Drug Administration.
Earlier this funding, Ally Bridge Group had funded more than $140 million in 3 medical technologies late last year. Mavrik was one of those 3 MedTech startups. Mavrik has also marked as the first Israel firm to get investment from ABG.
Ally Bridge Group CEO and CIO Frank Yu said that for ABG, Medtech, just like biotech would always remain our first choice and must-invest sector. We majorly focus on bringing best-in-class technologies than would play havoc with the current standards of care. “ABG’s constant investments that empower strong harmony across both public and private markets, combined with our M&A know-how and cross-border value-add, stands the firm out and makes it a chief investor in late-stage best-in-class life science technologies”, Yu further states.