News

Toothpick Is Aiming To Digitize Dentalcare In The UAE & Beyond

The Dubai-based dental health startup has ambitious plans to revolutionize the way we approach oral health.

Published

1 year ago

January 31, 2023

toothpick is aiming to digitize dentalcare in the uae and beyond

Last year, the global dental market’s value was estimated at nearly $40 billion. Despite being immensely profitable, the sector remains decidedly old-school in its approach to digitization and cloud-based solutions. For that reason, startups have enormous potential to help dentalcare providers streamline their operations and patient journeys while enhancing supply chains.

One of those startups, known as Toothpick, is a homegrown, UAE-based venture that allows dentists to find products and services in their local marketplace and matches them to various financial solutions.

Toothpick is another success story from AREA 2071, the government-funded startup accelerator helping Dubai become a leading player in the world’s interconnected digital economy. The startup is the first healthtech innovator globally to attempt to digitalize the dental industry and has acquired over 50,000 subscribers, 390 local suppliers, and sold nearly 70,000 products.

Although founded and based in Dubai, Toothpick has expanded its services into Egypt, Lebanon, and Qatar while recently signing agreements for the Saudi Arabian and Kuwaiti markets. The company’s next target regions are Germany, Austria, and Switzerland, and, if successful, the lucrative Asian and American markets.

Also Read: How To Find The Best Remote Work Opportunities In The Middle East

“We were inspired by the leadership and vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to aim as high as possible. Being immersed in the spirit of Emirates Towers and seeing the motivational quotes from the UAE’s leadership on a daily basis instilled confidence. We have attempted to integrate the UAE’s approach to problem-solving into our thinking and company structure, which has led us to achieve some significant milestones and will propel us to further success,” says Sary Azakir, Managing Partner of Toothpick.

As part of Toothpick’s pre-seed funding round, the company raised $2.8 million and is set to generate over $15 million during its Series A Round.

Related Topics:HealthTech Toothpick United Arab Emirates

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.