Basma, the Digital Dental Startup, Secures a US $1.2M Seed Funding
BEIRUT, January 27, 2020 (Newswire.com) - Basma (www.wearebasma.com), the Beirut-based digital dental startup, secures a seed round of US $1.2M and opens up access to simple and affordable orthodontics in the MENA region.
This financing round was led by prominent Beirut-based VC firms B&Y Venture Partners and Cedar Mundi Ventures, with joint participation from iSME and various business angels.
Basma is a direct-to-consumer healthcare brand that wants to give customers straighter and brighter teeth. It's a digital health company founded on the belief that affordable dental care should be accessible to everyone.
According to their Founder and CEO, Dr. Cherif Massoud: "Seven out of 10 people in the Arab world can benefit from straighter teeth. But we think that everyone deserves to smile confidently. Aligners are the best alternative to braces; by changing the distribution channel and putting everything online, Basma cuts the treatment cost by up to 65%. Patients are constantly connected to doctors on our advanced telemedicine platform and are able to receive the treatment kit that will have a series of clear custom-fitted aligners straight to their homes."
"Basma understands consumers' desire to improve their smile discreetly, and they have the tools to make it happen." Their CEO adds: "Adults should not feel pressured to wear wired braces. They are looking for invisible braces that don't affect their confidence, and this is exactly what we can give them."
Bassel Attieh, Chairman and Managing Partner of Cedar Mundi Ventures, says: "We see much appetite for HealthTech and cosmetics services in the Middle East, both from consumers and professionals. And the teeth aligner industry is only getting started here. We believe in Basma's bright future, building on local entrepreneurial and tech talents, and leveraging internationally acclaimed, remote professional initiatives for and from the region."
The funds will further push Basma's tech base and fuel expansion in the MENA region.
Dr. Cherif Massoud
Tel: +961 3 855016
Tel: +44 7444494732
Categories: Venture Funding