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MakeO, Parent Company of Toothsi, Secures $16M in Latest Funding Round for Expansion

MakeO, the parent company of dental technology startup Toothsi and skincare brand Skinnsi, has secured $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 participated in the round. With this funding, MakeO plans to expand its geographical reach and enhance its experience centers across the country.

Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO initially started as the aligner brand Toothsi. In September 2022, it merged its flagship brands, Toothsi and Skinnsi, to launch MakeO. The company offers dental, skin, and hair treatment solutions as a single-window service. MakeO, having raised $90 million to date through equity and debt rounds, received $40 million in a Series C round in May last year from Eight Roads Ventures, Paramark, IIFL, and others. The latest funds will be utilized for further expansion and scaling of experience centers. Anushka Sharma and Virat Kohli serve as brand ambassadors for MakeO. The company claims to have served over 150,000 customers across its portfolio, providing services such as clear aligners, laser hair reduction, acne removal, anti-aging, and teeth whitening. Currently, the platform has over 600 dental professionals, including more than 100 orthodontists and in-house dentists. Although MakeO has not yet filed its annual financial report for FY23, its scale surged 5.3 times to Rs 78.45 crore in FY22 from Rs 14.6 crore in FY21. However, the company's losses increased significantly, jumping 8.8 times to Rs 184.29 crore in FY22.

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