KLAR Receives Early Investment, Targets Market Worth IDR 43 Trillion
KLAR, known as an aesthetic dental technology startup, announced the closure of its seed funding round led by AC Ventures, and the participation of the Kenangan Fund.
KLAR CEO and Co-Founder, Ellen Pranata, said this funding is the first step to develop and achieve all the company’s dreams when it decided to set up a startup.
“We and investors have agreed from the start that our business goal is to provide reliable dental technology solutions for the people of Indonesia,” said Ellen in a statement, Tuesday (29/6/2021).
He admits that he often sees more and more patients who want to have neat teeth and an attractive smile to increase their self-confidence, but want a comfortable process without sacrificing aesthetics.
Combining advanced technology with orthodontic expertise, KLAR creates ultra-clear aligners that are modern and comfortable to wear and can improve the aesthetics of teeth without the use of braces.
Meanwhile, AC Ventures’ Founding & General Partner, Michael Soerijadji, said he believes KLAR has the capacity needed to become a leader in the dental aesthetics industry in Indonesia.
“Moreover, the market potential for aligners can reach IDR 43 trillion or equivalent to US$ 3 billion. With the growth in GDP per capita, and the increasing interest in personal care and aesthetics, we believe the demand for aligners in Indonesia will continue to increase,” Michael claims.
Four Major Business Goals
KLAR said it would allocate the funding for four main business objectives. First, carry out development and research to optimize maintenance costs.
This is done so that patients can enjoy international quality services without spending a lot of money. Second, the company will enlarge the team to support business growth in order to become a market leader.
Third, this fund will be allocated to strengthen KLAR’s position as a flagship brand for patients and dental partners who want a solution to straighten their teeth without a complicated process.
Fourth, the company plans to add to its portfolio of supporting products to completely straighten the patient’s teeth.
Get to know KLAR
The founder of Klar is the next generation of PT Cobra Dental Indonesia, which is a big player in the field of hospital equipment specifically for dentistry.
In addition, the other founders have a long background of experience in global management consulting and dentistry specialists. It’s no wonder then that even though Klar has just been established, it has received outside funding for this startup.
KLAR is led by senior executives with experience in the dental care industry. The CEO of KLAR, Ellen Pranata, is a former director of Cobra Dental, one of the largest dental equipment importers and sellers in Indonesia.
Meanwhile, Adelia Susanto (Chief Orthodontist) is an orthodontist who has a lot of experience in treating clear aligners. Then David Sugihartana (COO) is a dentist who specializes in prosthetics, aesthetics, and full mouth rehabilitations.
The three executives were also accompanied by senior advisors, such as Gita Prihanto (former COO of RuangGuru and former Senior Director of Grab Indonesia) and Adrian Susanto (CEO of Cobra Dental).
This startup relies on a B2B2C (Business-to-Business-to-Consumer) business model. KLAR complements the services offered by partner dentists by providing high-quality aligner technology, so that they can offer these products to patients.
Dentists and patients can interact and monitor treatment status remotely with the KLAR mobile application, called KLAR Smile.
This is certainly a very crucial differentiating factor, especially in reducing the number of visits and time spent on periodic check-ups.
KLAR manages the company’s operations from upstream to downstream independently, in fact, they already have a special production facility to produce transparent aligners, KLAR Aligner. With this approach, KLAR can maintain quality and reduce production costs.