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Dental-tech & skincare player MakeO raises Rs.55-Cr from existing investors

Business Outreach   MakeO  

MakeO , the parent of dental-tech startup Toothsi and skincare brand Skinnsi, is to raise INR 54.7 crore (around USD 6.43 million) in a fresh funding round led by existing angel investor Siddharth Shah (co-founder of Pharmeasy, who invested INR 20 crore) and Mahendra Shah (INR 10 crore). The round saw participation of existing institutional investors including 360 ONE (INR 10 crore), Eight Roads Ventures (INR 4.35 crore), Paramark Ventures (INR 4.35 crore), Ashish Kacholia, Siddhant Partners, and R.B.A Finance & Investment Co.The company will issue 5,80,072 CCPS (compulsorily convertible preference shares) at INR 943.7 each to raise the sum, which is around 57% lower than its previous round of funding.Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO began as the aligner brand Toothsi. In September 2022, it merged its flagship brands, Toothsi and Skinnsi to launch MakeO, offering dental, skin, and hair treatment solutions under a single platform.

Between Jan 2021 and Jan 2024, MakeO had raised about USD 94 M from 360 ONE, Eight Roads Ventures, JM Financial, Paramark Ventures, Think Investments and Stride Ventures.For FY24, MakeO had reported about INR 179 Cr in Operating Income and about INR 150 Cr in Net loss.