OrthoFX, a US-based orthodontic and teeth straightening service has raised US$13 million. The round of fund was led by SignalFire with participation from Unusual Ventures by Jyoti Bansal (founder of AppDynamics), ShangBay Capital, and Kairos Ventures.
Founded in 2017, by Ren Menon(a Keralite and a graduate of College of Engineering, Trivandrum), Nichole Garcia, and Henry Chan, OrthoFX specializes in premium tech-enabled teeth aligners, a less known, but a smart alternative for braces to correct malocclusion (crooked teeth).
The medical startup plans to use a significant portion of the fresh funds to set up a development center at the Infopark in Kochi.
Co-founder Ren Menon who has extensive experience in medical devices wants to position his company as a leading global brand in medical devices, he said, “We are building orthofx to be the leading innovator and the preferred global brand in digital orthodontics. We are at the forefront of transforming the standard of care in a direction that is aligned with the emerging changes in consumer preferences. The rich talent pool that is available in kerala to an employer like orthofx makes it a very attractive destination for our expansion plans. The same should be true for other medical device businesses as well.”
Additionally, Mr. Menon believes Karela has the potential and can emerge as global medical devices hub, he added, “In the near term, the center will employ 100+ technocrats. OrthoFX aims to recruit a skilled workforce, not just from Kochi, but from other parts of the country as well. The firm has a supportive stance on remote working,”