Orthodontists smiling wide at surging market

China's orthodontics market has been developing rapidly, and players are stepping up efforts to grab market share as people become increasingly concerned about their personal appearance and teeth.

Microcloud AI & Robotics Group, a digital dental solutions provider based in Jiangsu province, announced a financing round worth more than 100 million yuan ($15.5 million) this month. Liu Peng, the company's founder, said the financing will be used for product development, service upgrades and promotion of its invisible braces. This latest round of financing comes less than three months after a previous round worth 100 million yuan.

On June 16, Shanghai-based Angelalign was listed on the Hong Kong Stock Exchange, becoming the first listed orthodontics company in China. On the first day of trading, its share price soared 183 percent at one point to hit HK$490($63.10) a share. It closed that day at HK$401, up nearly 132 percent from its initial public offering.