DIAMOND WHITES ALIGNERS COMPLETES PRE-SERIES A FUNDING ROUND AT £6.875 MILLION VALUATION

DIAMOND WHITES ALIGNERS COMPLETES PRE-SERIES A FUNDING ROUND AT £6.875 MILLION VALUATION

London, UK. 12 March 2021 – Diamond Whites Aligners, the rapidly growing at-home teeth aligner business, has raised £550,000 in Pre-Series A funding from Moscar Capital L.P., valuing the company at £6.875 million. The funds will be used to support Diamond Whites Aligner’s growth strategy, having recently announced the opening of its London headquarters and plans to double its employee headcount by H2 2021.

Diamond Whites Aligner’s technology harnesses the power of artificial intelligence (AI) to provide customers with advanced teeth alignment treatment from the comfort of their own home and up to 70% cheaper than competitors. Mobile application enabled ScanBox technology notifies customers to provide weekly scans to track their progress and determines whether progress is sufficient to move on to the next stage of treatment. To date, the AI-driven technology has taken over half a billion scans and is supported by dental professionals, should the scan require review from a qualified Dentist. The technology allows Diamond Whites Aligners to rapidly scale and safely review thousands of scans daily, reducing the need for clinic visits and bringing dentistry into the 21st Century.

Since launching in June 2020, the company’s technology has improved over a thousand smiles across the UK. By H1 2022, Diamond Whites Aligners’ customer base is forecast to increase by 256%, with employee headcount more than doubling to meet this demand.

Ben Reed and Dr Richard Marques, co-founders of Diamond Whites Aligners, in a joint statement, said: “2020 was a year of significant achievement for Diamond Whites Aligners. We have expanded our product offering, owing to the flexibility and innovative nature of the technology deployed. This has enabled a remarkable rate of customer acquisition over the last 8 months and these funds will valuably support this continued expansion.”

“With our combined knowledge and expertise, we have established Diamond Whites Aligners as a market leader for at home teeth alignment. The company’s success in such a short period of time is indicative of the fundamentally different solution it is providing to customers and we are pleased to have gained the support of Moscar Capital L.P. to back the business through its next stage of growth.”

Leo Davies, CEO at Moscar Capital L.P., added: “Diamond Whites Aligners has undoubtedly become a market leader in its field and has set the industry benchmark for truly AI-driven dental solutions, both technologically and commercially. The dental profession’s adoption of technology, particularly with Diamond Whites Aligners, is becoming ever-more present and essential in delivering greater efficiencies whilst providing best in class customer experience. Moscar Capital L.P. are pleased to be a part of the company’s next stage of growth, and we are very excited to see them further their success.”