RIYADH: The Jordan-based dental technology startup Eon Dental has successfully raised $26 million in a Series B funding round led by a large international MedTech fund, MAGNiTT reported.
Other players involved with the funding include the Arab Palestinian Investment Company, otf Jasoor Ventures, Endeavor Catalyst, Spartech Ventures and Bank al Etihad.
They join existing investors Hummingbird Ventures and Silicon Badia.
The startup will channel its newly acquired funds to further advance its manufacturing automation and clinical services capabilities, invest and innovate in its enterprise and clinical software solutions, and strengthen its commercialization and distribution.
Founded in 2011, Eon Dental is a full-service clear aligner company with a worldwide distribution network.
The MENA Healthcare industry was one of the few industries to observe an instant impact from the global pandemic, reaching an all-time high in VC funding in 2020 and growing four times compared to the year before, according to MAGNiTT.