UAE-based online dental products marketplace UDENZ has confirmed the successful completion of a bridge fund round led by Global Ventures UAE. Several angel investors also participated in the round, officially wrapped up on Sept 3, 2020.
The net yield from the round was $100,000, which has now placed UDENZ’s market evaluation at $2 million.
UDENZ has stated that it will be utilizing the newly raised fund to promote its new services across the UAE, Saudi Arabia, and Oman.
It is worth noting here that despite all the challenges thrown in by COVID-19, UDENZ has managed to continue providing a variety of services to dentists and patients while simultaneously sustaining its growth.
In fact, the startup has kicked off several successful veneers since the beginning of the COVID-19 pandemic. These include the UAE’s first UDENZ had introduced first dentist-patient online audio/video consultation using EazeTx Technology, one of the fastest growing online consultation tech providers in the UAE Market.
Commenting on the company’s rather successful performance during the pandemic, Dr. Hisham Safadi, founder of UDENZ, noted: ‘’UDENZ business performance perspective has witnessed an increase thanks to the recent sudden increase in demand in the online health consultation services in the wake of the Covid-19 pandemic, which has led to a permanent shift inpatient behaviors and attitudes.”
He added: “After the Covid-19 pandemic, it is expected that many dentists in the Arab Gulf region will record an increase in online oral health consultations between 20 and 30 percent.”
