Toothsi parent MakeO scoops up $16 Mn in a new round

MakeO, the parent of dental tech startup Toothsi and skincare brand Skinnsi, has raised $16 million in a funding round led by 360 ONE Asset and the investment office of Ashish Kacholia.

Existing investors Eight Roads Ventures, Paramark Ventures, and the family office of Medlife’s co-founders also joined the round.

In May last year, MakeO raked in $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.

The company will use the fresh funds to expand its geographic footprint and scale its experience centres in the country.

Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain and Anirudh Kal, MakeO started as an aligner brand Toothsi and later it merged its flagship brands  — Toothsi and Skinnsi – to launch makeO in September 2022.  Now, it provides dental, skin and hair treatment solutions under a single window.

The firm also roped in Anushka Sharma and Virat Kohli as its brand ambassadors. MakeO 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 over 600 dental professionals, consisting of more than 100 orthodontists and in-house dentists on the platform.

While MakeO is yet to file its annual financial report for FY23, its scale surged 5.3X to Rs 78.45 crore in FY22 from Rs 14.6 crore in the previous fiscal year (FY21).  According to startup data intelligence platform TheKredible, the company’s losses jumped 8.8 fold to Rs 184.29 crore in FY22.