Meilike Secures Hundreds of Millions in Series B Funding to Accelerate R&D and Deliver High-Value Invisible Orthodontics

VCBeat (WeChat: vcbeat) has learned that Meilike recently announced the completion of its Series B financing, amounting to hundreds of millions of yuan. The round was led by Shiyu Capital, with participation from Junshan Investment and Suzhou Fund. The funds will be primarily used for medical product R&D, team building, customer empowerment, and production capacity expansion.

Previously, Meilike completed a strategic round of financing exceeding RMB 100 million in early 2021. This round was led by Sinopharm Capital and Zhonghe Oupu Fund, with participation from Chang’an Private Capital and Shuimu Chunjin Capital. The company also completed an A+ round of financing worth tens of millions of RMB in 2020 during the pandemic, exclusively invested by Boyuan Capital.

To date, the Meilikeli sales team has grown to over 2,000 members. Its core product, “Meilikeli Clear Aligners,” has reached nearly 50,000 clinics across 1,800 cities in China. The online physician platform boasts more than 80,000 registered doctors and serves over 10,000 users each month.

A set of data from Frost & Sullivan shows that by 2030, the retail consumption scale of China's orthodontic market is expected to reach $29.6 billion, with the invisible orthodontics market anticipated to achieve a size of $11.9 billion, representing a vast blue ocean market. Facing significant growth opportunities, the currently high retail prices have raised the consumption threshold for consumers choosing invisible orthodontics, highlighting an urgent need in China's invisible aligner market for a brand offering high cost-performance value.

To enable more people to access high-quality, efficient, and affordable clear aligner therapy, Meilike has made substantial efforts in areas such as orthodontic materials, equipment, medical and service systems, and supply chain development. For many years, Meilike has consistently adhered toFocusing on lower-tier markets, we develop invisible orthodontic products that are effective, accessible, and affordable for the Chinese public.

Business Partner Lin Dongkui stated, Meilike immediately serves over 40,000 patients annually, standing out from dozens of emerging clear aligner brands in just two years. Meilike’s annual growth rate exceeds 100%, a surge underpinned by the team’s nine consecutive years of focused R&D in technology and medicine, which have laid a solid foundation.

Since 2013, the Meilikai team has been developing a fully digital system for clear aligner therapy, progressively migrating data, services, products, management, transactions, and education to online platforms. The system has been made accessible to over 50,000 medical service providers and individual practitioners, making itChina's First Comprehensive Online Platform for Oral Health Services.

In 2017, Meilike became the first company in China to achieve self-production of core raw materials, making it the first Chinese company to eliminate import dependence for both membranes and 3D printing.

In 2021, Meilike obtained China’s first medical device registration certificate for TPU film (Jing Xie Zhu Zhun 20212170135), pioneering the localization of raw materials in China.By integrating our proprietary medical system, we can achieve more effective biomechanical expression, enhance the comfort and controllability of clear aligners, and have established an automated intelligent manufacturing base.

Leveraging core technologies in key raw materials and automated processes such as 3D printing,Meili has immediately achieved independent R&D and in-house manufacturing across the entire industry chain, from scanning and design to printing and production., providing outpatient physicians with a comprehensive suite of solutions to control costs at the source and deliver the most cost-effective clear aligner products to lower-tier markets.

High-quality materials and equipment are the foundation of cost advantages, but medical program design is the key link to ensuring patient treatment outcomes.Meili immediately established a professional team of dentists responsible for designing patient treatment plans., committed to providing stable medical technical support for services in China's lower-tier markets.

Currently, Meilike has nearly 50 full-time dentists directly involved in product design at its headquarters, while more than ten professors from Peking University School of Stomatology provide solutions for combined orthodontic treatments and complex cases.

Meanwhile, Meilike has also developed a unique management system tailored to lower-tier markets and established branches in more than 30 cities across China. “This brings us closer to our users, helps build greater trust, and makes it easier to ensure high-quality patient care in collaboration with physicians,” said founder Tian Lei.

Currently, Meilike has more than 20 partners, each possessing extensive experience and professional networks in their respective fields, serving as a core force for the future development of the company and the industry. Meanwhile, in 2018, Meilike officially launched an academic exchange initiative—“Meilike China Tour”—to ensure the clinical medical team’s mastery and continuous advancement of clear aligner therapy skills.

Over the past three years, guided by its founding mission to “make invisible orthodontics accessible across China,” the “Meilike China Tour” has reached 29 provinces and covered 450 regions nationwide. It has delivered more than 2,000 professional academic courses, training over 60,000 dentist participants. The curriculum encompasses orthodontic theory, hands-on practice, clinic operations, and management, thereby enhancing the overall operational proficiency of orthodontists and driving the industry’s comprehensive development.

Tian Lei, founder of Meilike, stated“Clear aligner therapy is a high-growth sector, yet it remains a serious medical practice. Only by meticulously executing every step can we ensure treatment efficacy and uphold our responsibility to each patient. Amid the current Kondratiev wave in consumer healthcare, certain brands will undoubtedly stand out. However, clear aligner therapy is not a field that can be rapidly spawned by capital alone. This medical device requires long-term accumulation in R&D and brand reputation, underpinned by sustained exploration, patient investment, and support from a complete, high-caliber team. The production of clear aligners relies on a digital system that is a decade ahead of its time. Since 2013, the Mediclay team has been researching scanning, 3D printing, data processing, materials, and automated manufacturing, achieving intelligent automated production. In the future, we will launch clear aligner products that integrate medical AI with new materials, creating a new category for the entire industry.”

Gao Yang, Co-CEO of Meili Ke, statedIt is extremely difficult to succeed in China’s lower-tier markets. China needs a product akin to Meilike (SmileDirectClub). We will also launch a service platform that enables ordinary people to easily access orthodontic correction. This year, we aim to help consumers in at least 100 cities gain a deeper understanding of the significance of orthodontic treatment, ensuring our services are “effective, accessible, and affordable.”

Cao Jian, Founding Partner of Shiyu Capital, the lead investor, stated: “Clear aligner orthodontics is one of the fastest-growing segments within China’s oral care industry. However, compared with the United States, the market penetration rate in China remains low, indicating substantial room for future growth. Based on its differentiated market strategy and strengths in R&D, medical expertise, and distribution channels, Meilike holds significant development potential. Shiyu Capital will fully leverage its industrial resources to ensure that truly valuable products benefit a broader population, thereby providing strong support for the company’s growth.”

Chen Penghui, Founding Partner of Boyuan Capital, stated“Clear aligner therapy is a consumer healthcare segment that combines medical attributes with a broad consumer base, featuring both the barriers to entry characteristic of the medical industry and the explosive growth potential of the consumer sector. Therefore, Boyuan Capital remains bullish on the clear aligner therapy sector. Through differentiated competition, the Medlign team has become a domestic leader within just a few years, emerging as the largest provider of clear aligners in third- and fourth-tier cities. Boyuan Capital is optimistic about the innovative and execution-driven team led by Mr. Tian. Boyuan Capital engaged with Medlign prior to the pandemic and invested in the company during the outbreak, providing consistent support during challenging times. We look forward to Medlign’s continued growth and development into an outstanding healthcare startup in China.”

Zou Min, Partner at Sinopharm Capital, stated“We have observed that consumer stratification in China is becoming increasingly diversified. Against this backdrop, brand differentiation within the clear aligner market is inevitable. Meanwhile, in China’s lower-tier markets, a substantial number of young individuals with orthodontic needs remain untapped due to limited market education. We are optimistic about Meilike’s market positioning and competitive strategy, and we look forward to establishing a long-term partnership with the company.”

Junshan Investment Partner Zheng Xiaolin stated“Against the backdrop of the new era of consumption, public demand for health management and image enhancement has surged explosively. Clear aligners, as a medical device that integrates both needs and embodies the characteristics of new-consumption products, hold immense market potential. Through technological and operational model innovations, Meilike has effectively addressed the industry pain point of high unit prices for clear aligners, thereby benefiting a broader consumer base. As an investor, Junshan Capital looks forward to empowering the company’s growth and unlocking greater possibilities for Meilike’s expansion.”

Shiyu Capital focuses on equity investments in the pharmaceutical and healthcare sectors. With assets under management exceeding RMB 7 billion, it has invested in over 40 companies, more than 10 of which—including WuXi AppTec (603259.SH/2359.HK), JD Health (6618.HK), and Jacobio Pharmaceuticals (1167.HK)—have successfully completed initial public offerings (IPOs). Committed to facilitating the transformation and upgrading of Chinese pharmaceutical enterprises, Shiyu Capital leverages its extensive industry resources to co-create value with outstanding entrepreneurs. It has been recognized by leading professional institutions such as Zero2IPO, China Venture, CB Insights, and PharmaCube as a top private equity firm and a premier investor in the biopharmaceutical sector.

Junshan Investment, established in February 2016, primarily invests in companies across global fintech, frontier technologies, enterprise services, new consumer platforms, digital healthcare, and other sectors. The fund was ranked among the “Top 9 Global Fintech Unicorn Investors” by CB Insights and listed as one of the “Most Active Corporate Venture Capital Teams” in the 2019 Fintech Almanac compiled by Financial Technology Partners, a fintech-focused investment bank. It was nominated for “Best Fintech Equity Investment Fund” at the 6th LendIt USA Summit, ranked among the “Top 10 Best Investment Institutions in China’s Fintech Industry” on ChinaVenture’s 2020 list, and named “Fintech Investment Institution of the Year” in 2021 by The Asset, a renowned Asian media outlet.

Suzhou Jinlin Health Fund was established in 2021, initiated by the Suzhou Fund Management Team and based in the Wuzhong Bio-Medical Industrial Park. Leveraging Suzhou’s robust bio-pharmaceutical industry and favorable environment for entrepreneurship and innovation, the fund focuses on the healthcare and wellness sector, with deep expertise in bio-pharmaceuticals, medical devices, and related fields. Committed to becoming a highly professional and market-recognized fund, it provides comprehensive support and services to foster enterprise growth, contributing sustained financial momentum to the vigorous development of China’s healthcare and wellness industry.

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