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Venture Capital | 11 August 2014

Dental Lab Leixir Raises Funds From IvyCap Ventures

by Sejal Mourya
Dental Lab Leixir Raises Funds From IvyCap Ventures
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Gurgaon based Leixir which manages dental laboratories across North America through its group companies has raised INR 250 Mn in its Series A round led by IvyCap Ventures Advisors Private Limited. The funding will be utilized to fund the company’s inorganic growth plans.

Working on a hub and spoke model, the company had acquired 6-7 dental labs and further seeks to expand in the American continent.

Started by Harmeet Bindra, a BITS Pilani alumni and founder of Singapore-based IT services firm Soltius Technologies, in 2012 Leixir offers a range of crown & bridge, implant, surgical guides, dentures and even provide Oral Scanners to its dentist. Dental labs manufacture or customize products like crowns, bridges, dentures and other dental products.

IvyCap , an INR 2,000 Mn fund invests anywhere between $3 to $7 Mn in about five companies a year across healthcare and life sciences, education, rural/ agriculture, energy/ cleantech as well as cyber security and forensics.

Its portfolio consists of Reuters Market - an information solution for farmers in India , Aujas - information risk management services company and Fieldez - An On-Demand mobile based solution that aids managing field sales or service teams.

The firm's core investment team includes founder and MD Vikram Gupta, Ashish Wadhwani, a Singapore-based investment specialist who is also a founder of M&A's advisory firm Value Insights, and Norbert Fernandes, who was earlier with the PE investor Temasek Holdings.

Recently in this space:

  • Hyderabad based Today’s Healthcare India, which runs Denty’s Dental Care clinics had secured INR 270 Mn from Helion Advisors Private Limited.
  • Mumbai based Smile Merchants, a dental clinics chain owned by Free 3 Healthcare Services Pvt Ltd had raised an undisclosed amount in seed round from Unitus Seed Fund.
  • Vanamo Care owned dental healthcare chain Fine Feather had raised second round, divesting 18% stake.


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