Smile Genius Dental secures first-of-its kind investment match funding with Enterprise Ireland’s Pre-Seed Start Up Fund.
Digital platform for dental treatment Smile Genius Dental has raised €200,000 in investment from Enterprise Ireland and private investment company Growing Capital.
Earlier this year, Smile Genius Dental successfully applied for the Enterprise Ireland Pre-Seed Start Fund (PSSF) which provides start-ups with critical early-stage funding up to the value of €100k to test the market and progress their business plans for the global marketplace.
“This investment will help us to improve our product, make it more scalable, allowing us to enter key markets and integrate with other ecosystem partners”
The fund allows companies to progress key technical and commercial milestones required to attract future seed funding within six to 18 months.
The company successfully participated in the Enterprise Ireland New Frontiers programme at TU Dublin City Campus and has also successfully secured match funding to the value of €100k from Growing Capital led by Gianni Matera.
Digitalising dental care
Nipun Kathuria and Dr Mark-Anthony Shepherd co-founded Smile Genius Dental in 2021, a platform for streamlining dental workflows for clinics, DSOs and clear aligner companies, offering a one stop digital solution for the dental industry.
“This investment from Enterprise Ireland, plus the additional funding from Growing Capital marks a significant milestone for Smile Genius Dental as we strive to transform the digital landscape for the benefit of dental practitioners and the outcome for their patients,” co-founder of Smile Genius Dental Nipun Kathuria said.
“This investment will help us to improve our product, make it more scalable, allowing us to enter key markets and integrate with other ecosystem partners. The TU Dublin New Frontiers Programme has been instrumental in preparing us for investment readiness and in connecting us to the investment network in Ireland.”
Enterprise Ireland’s Anna-Marie Turley, Department Manager of Entrepreneurship and HPSU Operations, welcomes Growing Capital’s initiative to match fund Smile Genius Dental PSSF investment of €100K, increasing the total pre-seed round to €200K.
“The Pre-Seed Start Fund, in conjunction with Enterprise Ireland’s broader range of services for start-ups, responds to current market needs and provides entrepreneurs with a financial offering to help accelerate their start-up business plans,” Turley said.
“The finance provided can then be ring fenced for critical requirements including product development, recruitment and developing channels to market. Match funding of PSSF for early-stage start-ups by investment firms such as Growing Capital is a positive development and provides a great boost of support to pre-seed start-ups like Smile Genius Dental.”
Growing Capital is an early-stage investment company and to date has backed over twenty Irish start-ups including Glofox, Flipdish, Siren, Caragon, Geowox, Akara and MoveAhead.
“The PSSF is a highly attractive initiative from Enterprise Ireland which provides start-ups with the vital capital that is required to help them set out on their journey,” said Gianni Matera, Founder, Growing Capital said.
“I’m very proud of this co-investment in Nipun and his team – their technology driven solution has the potential to revolutionise the industry, and we are excited to support Smile Genius Dental’s journey.”
Paula Carroll, National Manager to New Frontiers Programme delivered by TU Dublin, Enterprise Ireland added: “Enterprise Ireland’s New Frontiers Programme supports start-ups across all areas of industry and is run across 18 locations nationwide.
“Our aim is to make early-stage businesses like Smile Genius Dental investor-ready for PSSF, HPSU, Local Enterprise Office funding and private investment. The additional investment by Growth Capital through the company’s participation in the New Frontiers programme is a significant milestone for Smile Genius Dental as it implements its ambitious growth strategy.”
Main image at top: Anna-Marie Turley, Enterprise Ireland, Gianni Matera, Growing Capital, Nipun Kathuria, Smile Genius Dental, Diane Hurley, New Frontiers Programme Manager, TU Dublin City Campus