MakeO, the parent company of dental tech startup Toothsi and skincare brand Skinnsi, has raised $16 million in a new funding round led by 360 ONE Asset and the investment office of Ashish Kacholia, a public markets investor . The round also saw participation from existing investors Eight Roads Ventures, Paramark Ventures, and the family office of Medlife’s co-founders Prashant Singh and Tushar Kumar .
Expansion plans
The Mumbai-based clinical makeover platform, which offers dental, skin and hair treatment solutions at home and through its offline centres, will use the fresh capital to expand its geographic footprint and scale its experience centres across the country . The company claims to have served over 150,000 customers across its portfolio of offerings, which includes clear aligners, laser hair reduction, acne removal, anti-ageing and teeth whitening among others. Currently, it has operations in 17 Indian cities and two cities in the UAE.
Growth story
Founded in 2018 by Dr Arpi Mehta, Dr Pravin Shetty, Dr Manjul Jain and Dr Anirudha Kale, MakeO started as an aligner brand Toothsi and later merged its flagship brands — Toothsi and Skinnsi – to launch MakeO in September 2022 . The company also roped in Anushka Sharma and Virat Kohli as its brand ambassadors. In May last year, MakeO raised $40 million in a Series C round from Eight Roads Ventures, Paramark, IIFL, and others. It has raised $90 million to date across equity and debt rounds. According to startup data intelligence platform TheKredible, the company’s revenue surged 5.3X to Rs 78.45 crore in FY22 from Rs 14.6 crore in the previous fiscal year (FY21), while its losses jumped 8.8 fold to Rs 184.29 crore in FY22.