Million-pound investment fuels dental company expansion plans

A Birmingham-based digital denture care company has secured £1.284m to help push its UK expansion plans. 

£500k will come from the Midland Engine Investment Fund through the MEIF West Midlands Equity Fund, while an additional £392k will come from the West Midlands Co-Investment Fund.

Both are managed by Midven, part of the Future Planet Capital Group.

The remaining £392k will come from co-investment from Haatch Ventures and US-based Revere Partners.

This investment hopes to expand Denturly to more than 50 locations nationwide over the next 24 months and will help the company triple employee numbers, rising from 15 to 45.

 Graham Byrne, CEO of Denturly said: “We are excited to be partnering with Midven, the Midlands Engine Investment Fund and the West Midlands Co-Investment Fund. Our business is centred in  Birmingham which has been a fundamental factor in our ability to scale. We are grateful that Midven took the time to explore our vision to democratise quality digital denture care.”

Andy Street, Mayor of the West Midlands and chair of the WMCA said: “Denturly is exactly the sort of forward-looking, locally headquartered company that the novel West Midlands Co-Investment Fund was set up to find, fund and foster.

“Companies like Denturly show how technology can be harnessed to drive innovation, generate value and unlock new growth opportunities. These are the building blocks of a regional economy that is fit for the future so it’s important to improve access to finance for players like this. I look forward to the West Midlands Co-Investment Fund continuing to do good work in the months and years ahead.”