This Jordanian dental company just raised $26 mil in series b funding for their latest invention
Eon Aligner or Eon Dental, is a Jordan-based company founded in 2008 by Qais Sabri and Yousef Nassar. that specializes in the making and distribution of clear aligners in the Middle East and North Africa. The clear aligner is an invisible plastic brace, and unlike the common metal braces, the clear aligner is gentle to the gums and teeth and is removable. It’s as effective as the traditional orthodontic braces and the company regularly supplies dentists and orthodontics with their clear aligners and orthodontic solutions which has helped establish their brand in the Middle East. The company’s slogan is ‘The Difference Is Clear.’ Pun intended and totally spot on.
When a company achieves specific milestones as they grow out of the start-up stage, it goes through the series B financing, the second round of funding for the company. Eon Aligner has many investors, including Arab-Palestinian investment company, Medtech Fund, Jassor Ventures, Spartech Ventures, Endeavor Catalyst, Bank Al Etihad, Silicon Badia, and Humminbird Ventures. With their help and years of work and development, Eon Aligner just raised $26 million in series B financing.
An anonymous lead investor of Eon’s said, “The original equipment manufacturer market is extremely underserved. Eon’s innovations in rapid manufacturing of clear aligners and integrated clinical care solutions deliver a better experience for customers at a lower total cost.”
The new funds will be used to enhance the manufacturing of the company, develop its digital and clinical capabilities, distribute amongst more clients, create a stronger market presence, and work on providing high-quality orthodontic solutions to customers for a unique experience.
In light of this accomplishment by Eon Aligner, Jordan’s economy grew 2% this year in comparison to last year. The Jordanian Minister of Digital Economy and Entrepreneurship, Ahmad Hanandeh, said “It is exciting to see a Jordanian start-up mature as an organization and make the transition to become a global player.”
Now that Eon Aligner is receiving international investor attention along with regional attention, it puts a spotlight on Jordan. From businesses, talents, entrepreneurship to leadership, Jordan has expressed its full support for entrepreneurship and opportunities for economic growth.