Fussen Snares $14M in Series C Round, Focusing on Digital Dental Ecology Platform

According to 36Kr.com, Fussen Technology Co., Ltd. ("Fussen"), a provider of digital dental solutions, has closed on its Series C financing of several hundred million yuan (US$14 million), led by Sequoia Capital China, with participation from CICC Capital, Kaiyuan Guochuang Capital, Shenzhen Qianhai Fof, Ping An Ventures, and other new and existing shareholders. CEC Capital is acting as the sole financial advisor to Fussen.

Proceeds of this financing will be used to accelerate the acquisition of upstream and downstream resource, and develop the digital design platform and new products, so as to finally realize the ecological layout of the whole industrial chain.

Founded in 2012, Fussen's business is based on digital image equipment and SaaS systems to build dental digital platform and 3D design platform, connect industry upstream and downstream resources, provide value-added services of data, and ultimately develop a total solution of dental products, covering implanting, orthodontics, digital aesthetic restoration, etc.).

At present, Fussen has three core products including digital imaging equipment, Dentist Manager SaaS system, and consumables supply system. The sales network of its equipment covers 29 provinces and cities in China, and the number of signed agents is close to 100. Its SaaS system has covered more than 400 cities, more than 80,000 dental clinics. The consumables supply system was launched in early 2018, serving more than 20,000 clinics.

Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fin-tech sector.

Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.

CICC Capital is a wholly-owned subsidiary of China's first joint venture investment bank, China International Capital Corporation Limited (CICC). As the private equity investment fund under CICC, CICC Capital provides private equity investment fund services, including making private investment development strategy, promoting business, allocating resources and managing the risk.