Dubendorf, Switzerlamd-based Odne, a dental startup, announced on Wednesday, that it has secured $5M (approximately €4.5M) in a Series A1 round of funding led by Revere Partner and NV Capital.
Additionally, several other renowned funds, such as Dental Innovation Alliance (DIA), Plug&Play, Hatcher, Züricher Kantonalbank, as well as various family offices and angel investors, participated in the round.
The latest fund will help the Swiss company to finance the upcoming US market launch.
“With over 15 million root canal treatments per year, the US is the biggest market worldwide and our number one focus. Currently, we are performing a Priority Access Program to deepen the use of our products with selected US key opinion leaders. At the annual meeting of the American Association of Endodontists (AAE) in April, in Los Angeles, we will introduce the Odne RPT workflow solution to the endodontic community,” states Dr. Andreas Schmocker, CEO & Co-Founder, Onde.
What does Odne solve?
Root canal treatments have long posed challenges for dentists, with traditionally low success rates ranging from 46 per cent to 91 per cent. With over 60 million annual treatments worldwide, these failures result in significant healthcare costs.
Here’s where Odne comes into play.
Founded in 2018 by Andreas Schmocker and Mark Bispinghoff, Odne (former Lumendo) is on a mission to change how root canal treatments are done.
The company’s technology platform for Root Preservation Therapy (RPT) will feature three new medical devices enabling minimal invasive root canal cleaning and light-cured obturation.
- Odne Clean – The first hydro-dynamic cavitation device using saline as main debridement medium
- Odne Fill – FDA-cleared highly flowable, light-cured obturation material
- Odne Cure – Micro laser for light curing inside the root canal
The company’s technology, set to launch this year, will address challenges such as debridement and obturation in complicated root canal morphologies.
The investor
Revere Partners is a venture capital fund globally focused on investing in oral health technology.
The VC invests in cutting-edge and innovative dental technology companies that improve the lives of dental patients and providers through advancements in science and technology.
“Odne is within the core investment focus of Revere Partners: innovations in oral health. After receiving FDA clearance for Odne™Cure and Odne™Fill in 2023 the series A1 financing fuels Odne`s US market launch to the endodontic community. Together with all investors, Revere Partners is proud to elevate Odne`s RPT workflow for the benefit of patients, endodontists, and the referring general dentists,” adds Dr. Jeremy Krell, Managing Partner, Revere Partners.
01
Empowering Ukrainian Startups: Highlights from the PowerUp Ukraine 2024 Conference