Weiyun AI, a smart dental C2M (customer-to-manufacturer) startup announced on Wednesday that it has completed RMB100 million (US$14 million) in a Series A round of financing.
The investment is led by AlphaX Partners, an early-stage venture capital firm investing in technology startups in China.
Founded in 2018, Jiangsu-based Weiyun AI utilizes intelligent manufacturing, customized robots and smart factories, enabling it to manufacture customized clinical dental products. These products are distributed to hospitals and patients at much faster pace, with minimum human labor required in the process, says the company.
The company claims its advanced laser vision and robotic technology will help it develop an online digital dental customization service platform in China to meet rising dental care services.
The company has so far obtained nearly a hundred patented technologies with completely independent intellectual property rights. It has served 20,000 clinics around the country and started clinical cooperation with many top-tier hospitals.
China’s dental manufacturing market size reached RMB26.8 billion (US$3.78 billion) in 2018. It is growing rapidly at the same time, said AlphaX Partners.
Yao Yaping, co-funder of AlphaX Partners said that they value not only the tens of billions of denture manufacturing market in China, but more importantly the denture cosmetic plastic market worth RMB100 billion (US$14 billion). Denture cosmetic plastics market is a fast-growing segment in dental care.
Liu Dapeng, founder of Weiyun AI said that the company is committed to providing intelligent cloud manufacturing integrated solutions and C2M operating platforms for medical dentistry.