Northern Gritstone leads £2 million seed funding round in dentistry software developer Mimetrik
Investment will accelerate development of Mimetrik’s three AI-driven products and create a full ‘digital pathway’ for dentists and their patients worldwide.
Northern Gritstone has led a £2m seed funding round in Mimetrik, the developer of AI-driven digital dentistry products, alongside participation from angel investors with decades of experience in the dental industry. The investment will enable the company to expand its team and deliver its first three products to market.
A spin-out from the University of Leeds and based in its state-of-the-art innovation hub at Nexus, Mimetrik was founded in 2020 and builds on more than a decade of world-leading research at the University’s School of Dentistry. The company has developed 3D-scanning technology that uses machine learning to generate fully digitised images of a patient’s dentition and facial structure. Its aim is to create a full ‘digital pathway’ between dental labs and clinicians for the benefit of patients, replacing the costly, time-intensive current approach of creating physical models of each patient’s dentition, enabling more accurate and faster treatment.
With a new generation of dentists entering the profession who are more accustomed to using technology when providing dental care, it is predicted that the digital dentistry market will almost double in size to $1.8 billion by 2029.
This funding round drives a transformative shift that reimagines the boundaries of digital dentistry. It showcases the expansive potential of Mimetrik’s approach and will enable Mimetrik to bring its core products to market, which combine cutting-edge software, hardware and mobile apps.
Together, this is set to redefine the global digital dentistry market, covering dental impression scanning, occlusion, virtual articulation, and restorative treatment planning. Moreover, its software is primed to make significant advancements in preventative treatment pathways. Tackling the inherent limitations of current technologies, its solutions harness the capabilities of AI and machine learning to enhance dental procedures, improve accuracy, and expedite high-quality patient treatment. This pioneering approach not only aims to uplift the standard of dental care but also firmly establishes Mimetrik at the forefront of industry innovation.
The founding team of Professor Andy Keeling, Dr Alyn Morgan, Dr Cecilie Osnes and Professor David Wood have decades of experience working in clincial dentistry, 3D scanning and computer science, as well as collaborating with global dental manufacturers and shaping national dental policy.
Dr Alyn Morgan, Co-Founder and CEO of Mimetrik, said: “With over 30 years in clinical dentistry, I have seen first-hand the time and cost spent on traditional techniques and I believe that our products have the ability to transform the industry and ultimately ensure better patient care. Northern Gritstone’s investment is a vote of confidence in our technology and we will benefit from their advice and knowledge as we continue to grow and bring our products to market.”
Stephen Claffey, CCO of Mimetrik, said: “The ground-breaking products I’ve had the pleasure of introducing have reshaped dentistry. With Mimetrik’s latest offering, we’re poised to surpass all previous innovations I have been involved with. Our cutting-edge technology is set to redefine digital dentistry, enhancing both restorative and preventive treatments on a global scale.”
Duncan Johnson, CEO of Northern Gritstone, said: “Mimetrik’s technology has the capacity to bring dentistry into a new age, removing unnecessary costs and time delays with their AI-driven software. It is fantastic to see the North of England producing such cutting-edge technology that can have an impact on an essential part of our lives. We look forward to working with Alyn and the Mimetrik team as they step up the development of their products.”
Dr Martin Stow, Pro Vice-Chancellor for Business Engagement and Enterprise at the University of Leeds, said: “Our world-leading research in the School of Dentistry, coupled with the collaboration opportunities provided by our innovation hub, Nexus, has enabled the University’s spin-out company Mimetrik, to develop groundbreaking new technologies to advance patient treatment. It is fantastic to see Northern Gritstone choosing to invest in the business and we hope that the funding will accelerate the company’s development to start bringing vital improvements to dental clinicians, manufacturers and patients around the globe.”
Northern Gritstone was advised by Freeths, led by partner Dahren Naidoo. Mimetrik was advised by RWK Goodman.
