Moons: Investment Boom Continues in MexicoBy María Fernanda Barría | Tue, 07/27/2021 - 10:15
Moons, Mexico's dental startup, has received MX$180 million (US$9 million) from DILA Capital fund aimed to strengthen its operations in the Mexican and Colombian markets while continuing to expand its services to other Latin American countries.
The company said they plan to grow from 20 to 30 specialized clinics in Colombia and Mexico before the end of the year. The company expects to launch its services in Chile and Peru by early 2022. In addition, the company revealed that it has made an agreement with Liverpool to offer its services in some of the department stores.
The company aims to target a broader audience to make orthodontic treatments feasible for a larger public using technology and customized treatments. The cost of the brackets ranges from MX$25,000 (US$ 1,250) to MX$70,000 (US$3,500), while the price of the Moons treatment is around MX$24,000 (US$ 1200). The company indicates that the cost is just one of the advantages. Before the treatment, the patient has the option to attend one of the Moons clinics, where an intraoral scan is performed to generate the pieces in a 3D printer or start the treatment from home.
As previously reported by MBN, Latin America's entrepreneurs are experiencing a boost in operations and capital funds. Mexico is already home to two unicorns and keeps attracting both local and foreign investment funds. While opportunities for entrepreneurship keep increasing, it is critical to address the region's remaining challenges to help startups have a more significant impact.
Javier Mata, CEO and Founder of Yalo, says one reason why Mexico and Latin America are experiencing the current boom is that the region "imagines a future that does not depend on legacy technologies." Mata said the lack of digital infrastructure is the region's most significant opportunity and investors are noticing. "They are starting to notice that innovating here can be done faster and the changes that can be achieved are going to have an impact for the whole world," he pointed out.
Moreover, Google has launched a program in Mexico that is looking for promising startups to train them and make their businesses successful. The company indicates that Google for Startups Accelerator Mexico supports startups in Hispanic America focused on using AI/ML with a global mindset. All accepted startups will receive mentorship and support from the best of Google and our global mentor network in AI/ML, Cloud, UX, Android & Google Play, Web, Product Strategy, and Marketing.
The program is a three-month program focused on Seed to Series technology startups, run by Google Developers and Centraal. In addition, participants get access to the best knowledge of Google - its people, network, and advanced technologies to help build better products.