Dental practice requires a lot of tools and equipment, but dentists find it difficult to procure them, especially in Tier-II and III cities.
Seeing several inefficiencies in the distribution system in this space, a group, comprising techies and a dentist, has set up a start-up that addresses this ‘pain point’ of dentists.
Delayed arrival of products is a big issue dentists face. Issues relating to quality and pricing too bother them.
“Up to 80 per cent of the equipment is imported,” Sivaprasad Pinnapurala, Chief Executive Officer, MyDentistChoice.com, told.
Housed at tech incubator T-Hub here, the start-up raised angel funding of $150,000 in March.
After a 15-year stint in the IT industry in the US, Sivaprasad had returned to India in 2014 to set up the start-up.
The firm is planning to soon raise $2 million in Series A funding to expand to other cities and enhance technology solution.
“We launched the product 18 months ago and clocked sales of Rs. 80 lakh in the first year. We are expecting this to grow to Rs. 4-5 crore this year. We are registering a gross margin of 10-15 per cent and a net margin of 4-5 per cent.”
Working on a thin model with 12 employees, the company takes orders online, collects the products at the warehouses through a courier and has them delivered to dentists.“We are in the process of launching an Android and an iOS app. We are going to add 10 more people to the team,” Pinnapurala said.
Source: Business Line