a16z has led a $2.3 million pre-seed round in Dentio, a Swedish startup that uses AI to help dentists with admin work. This investment is a small but significant check for the firm, which recently announced new funds totaling $15 billion.
Dentio is an alum of SSE Labs, a startup incubator that has produced several successful Swedish companies, including fintech giant Klarna and legal AI startup Legora. The company was founded by three former high school classmates, Elias Afrasiabi, Anton Li, and Lukas Sjögren, who joined the incubator with additional backing from KTH’s Innovation Launch program.
According to Gabriel Vasquez, a partner at Andreessen Horowitz, the firm has been actively seeking deal flow outside of the US, even without local offices. Vasquez has been spending time in Stockholm, where he has been tracking ecosystems like SSE Labs and the companies coming out of it.
The Funding Round
The $2.3 million pre-seed round is a significant investment for Dentio, which plans to use the funding to expand its operations and develop its product. The company has already gained traction in Sweden and is looking to expand internationally.
Dentio’s initial product is a recording tool that uses AI to generate clinical notes. However, the company is aware that AI scribes may become a commodity product in the future and is working to prove its value to dentists.
Market Context
The investment in Dentio is part of a larger trend of US VCs seeking deal flow outside of the US. a16z has been actively tracking ecosystems in Europe, including SSE Labs, and has partnered with top founders abroad to spot promising companies.
Dentio faces potential competition from fellow Swedish startup Tandem Health, which raised a $50 million Series A round last year. However, Dentio believes it can reach scale through international expansion and by focusing exclusively on dentists.
Company Background
Dentio was founded by three former high school classmates who were inspired to solve a problem close to home. The company has already gained traction in Sweden and is looking to expand internationally.
a16z’s investment in Dentio is a significant vote of confidence in the company’s potential. With the firm’s support, Dentio is well-positioned to expand its operations and develop its product.
