Lightforce Orthodontics, developers of fully personalised 3D printed braces systems, has announced the raising of 80 million USD in its Series D funding round.
Ally Bridge Group and CareCapital led this latest investment. This follows the raising 50 million USD and 14 million in 2020. Omega Venture Partners Matter Venture Partners the American Association of Orthodontics and Kleiner Perkins participated in this round.
Lightforce plans to use the financial backing it has received to invest in education, as well as in expanding production of 3D printed custom brackets. The company will also be able improve its workflows by incorporating artificial intelligence. In 2020, the company began commercial operations with a goal to change braces’ approach with 3D-printing and AI.
LightForce’s orthodontics product is 3D printed brackets that are made according to a personalised digital treatment plan. AI is deployed in the LightForce software to generate accurate digital representations of patient anatomy and optimal teeth positions for ‘clinical efficiency and aesthetics.’ This offering is set to be bolstered by a new 36,000-square-foot manufacturing facility in Wilmington, Massachusetts, with LightForce also looking to leverage the latest round of funding to grow its engineering and science teams. It will also invest in clinical education resources that aim to provide orthodontists with the ‘skills and technology required’ to transition from ‘stock one-size-fits all braces to a fully digital practice.’
“This incredible syndicate of investors brings diverse expertise from the medical device, health IT, AI, and advanced manufacturing sectors to provide critical resources and expert guidance that will support our overall growth and continued innovation,” commented LightForce CEO and co-founder Alfred Griffin III, DMD, Ph.D., MMSc. “Teen patients have been limited by the inaccuracy and inefficiency of non-custom braces for decades. LightForce was created to give orthodontists fully personalised options for their patients, to improve the outcomes and experiences of each patient. With this funding, LightForce will continue to attract key talent, innovate through our incredible community of orthodontists, and scale operations as we seek to elevate the standard of care for teen orthodontic treatment.”
“LightForce is taking the orthodontic industry to the next level,” added Kevin Reilly, Managing Director at Ally Bridge Group. “Their solution applies highly innovative technologies to enable the personalisation of orthodontic treatment via 3D printing, helping patients achieve their best smiles. We are proud to be a part of an elite group of healthcare and technology investors who believe in the benefits personalised medicine can bring to the orthodontic industry. The future of orthodontics is customisation and digital workflow and we are excited to see the continued enhancement in patient care through this funding.”