Shanghai Smartee Orthodontics Secures Hundreds of Millions in Series C Funding Led by CICC Qichen and Gaoke Xinjun, Files IPO Prospectus

VCBeat (WeChat: vcbeat) has learned that on March 22, 2019, Shanghai Smartee Denti-Technology Co., Ltd. (hereinafter referred to as “Smartee Denti-Tech”) secured a Series C financing round worth hundreds of millions of yuan, bucking the trend amid a capital winter. The round was co-led by CICC Qichen and Gaoke Xinjun, with participation from prominent institutions including Qianhai Fund of Funds, Keystone Capital, and Yuesheng Ventures, which had led the company’s Series B round.

As the lead investor in Smartee Denti-Technology’s Series B financing round, Genesis Capital, which focuses on the life sciences sector and has been repeatedly ranked among the Top 10 venture capital funds in China’s healthcare industry, has increased its investment in Smartee Denti-Technology in this round. Mr. Chen Jie, Founding Partner of Genesis Capital, affirmed Smartee’s performance in recent years: “The clear aligner orthodontics industry in China is experiencing robust growth. As an industry leader, Smartee Denti-Technology has continuously broken new ground and pursued technological innovation, delivering outstanding results. We believe that the company will achieve even better and faster development following this round of financing.”

Mr. Chen Jie, Founding Partner of Yuansheng Venture Capital, affirmed Smartee Denti-Tech’s performance in recent years: “The clear aligner industry in China is experiencing robust growth. As an industry leader, Smartee Denti-Tech has continuously pushed its boundaries and pursued technological innovation, delivering outstanding results. We believe the company will achieve even better and faster development following this round of financing.”

The funds raised in this round of financing for Smartee Denti-Technology will be primarily allocated to two key initiatives: expanding automated production lines and upgrading the “Smartee” brand identity. Built on a foundation of talent acquisition and technological innovation, the company is committed to pioneering a new era of digital orthodontics and maintaining its leadership in China’s clear aligner market.

Smartee Denti-Technology, established in 2004, specializes in the research and development of digital orthodontic technologies, related services, and the manufacturing of customized clear aligners, standing as one of the leading brands in China’s clear aligner industry. As a domestic brand, Smartee Denti-Technology continuously drives the progress and development of orthodontics in China through its scientific and technological innovations. Meanwhile, it has garnered widespread acclaim for its advancements in the digitalization of clear aligner technology and the automation of production.

Its proprietary brand “Smartee” has ushered bracketless clear aligner orthodontics into the digital era, enabling end-to-end treatment control and visualization of both the correction process and outcomes. This has firmly established Shanghai Smartee Denti-Technology Co., Ltd. as China’s leading provider of digital orthodontic products and services. Notably, it was among the first to deploy industrial robots in its AUTO production line and AI-driven manufacturing, making Smartee one of the few clear aligner brands in China with a fully integrated smart manufacturing ecosystem.

CICC Qichen Fund, managed by CICC Capital, is a direct investment fund focusing on the healthcare, technology, and consumer sectors. Ms. Xu Yi, Managing Director of CICC Capital and General Manager of CICC Qichen Fund, stated frankly, “Clear aligner orthodontics is a rapidly growing sector that combines both medical and consumer attributes, yet it currently has low market penetration. Smartee Denti-Technology has cultivated this field for many years and established its own unique advantages. We believe that with capital support, Smartee will be able to seize opportunities amidst the rapid development of clear aligner orthodontics and achieve breakthrough growth in its business.”

Gaoke Xinjun is an equity investment firm focused on growth-stage enterprises, with a primary investment focus on the healthcare and technology sectors. Mr. Qin Yangwen, Managing Partner of Gaoke Xinjun Fund, stated, “Clear aligner therapy aligns with the future direction of orthodontic treatment and features technology-driven innovation, substantial growth potential, and a favorable competitive landscape. We are highly optimistic about this sector. The Smartee team is dynamic and energetic, with clear competitive strategies and a sound management structure. We believe that Smartee will stand out in future competition and emerge as an industry leader.”

Cornerstone Capital is one of China’s earliest venture capital firms, currently managing over 60 investment funds with assets under management exceeding RMB 50 billion. Ms. Huang Yiling, Executive Director of Cornerstone Capital, stated, “Clear aligner orthodontics represents dental medical products and services with strong health-consumption attributes, offering substantial investment potential. As a leading domestic brand, Smartee is rapidly emerging as a formidable competitor in the international market. We are delighted to partner with Smartee to shape a shared future.”

Qianhai Fund of Funds is currently the largest commercial fund of funds in China, adopting a model that combines fund investments with direct investments, with investment partnerships covering mainstream market fund managers. Qianhai Fund of Funds is optimistic about the potential of the clear aligner industry. As a novel treatment modality, clear aligners have already replaced some traditional orthodontic treatments. The Chinese clear aligner market is experiencing explosive growth. As a leading domestic enterprise, Shanghai Smartee Denti-Technology Co., Ltd. is poised for rapid development, driven by its own efforts and supported by capital.

Source:OrbiMed