Dermat, dental solutions startup makeO raises $16 million led by 360 ONE Asset

makeO last raised $40 million (over Rs 305 crore) in a round of funding from a clutch of investors in May 2022

Dermatology and dental solutions startup makeO, on January 9, raised $16 million in a round led by 360 ONE Asset and the investment office of prominent public markets investor, Ashish Kacholia.

In a statement, makeO, the parent company of dental aligner brand toothsi, said that it will use the fresh capital raised to expand its geographic footprint and scale its physical centres.

The company's existing investors including Eight Roads Ventures, South Korea based Paramark Ventures, the family office of Medlife’s co-founders – Prashant Singh and Tushar Kumar, also participated in the round, the company added.

"Our mission is to ensure that clinical-grade makeovers are more accessible, affordable and convenient to every Indian. This fundraise is a testament to the trust our investors have in our ability to execute on this vision. The capital will enable us to strengthen our online and offline footprint, offering customers the convenience of accessing our services at their doorstep or through our physical experience centres,” said Dr. Arpi Mehta Shah, founder and CEO, makeO.

Founded in 2018 by orthodontists Dr Shah, Dr Pravin Shetty, Dr Manjul Jain, and Dr Anirudh Kale, makeO began with the launch of the flagship clear aligner brand, toothsi. Later in 2022, the company created an umbrella brand ‘makeO’ for high-quality, clinical-grade solutions for skin, smile and hair makeovers.

The company, which counts prominent celebrities like cricketer Virat Kohli and actor Anushka Sharma as brand ambassadors, currently claims to have served over 150,000 customers across its portfolio of offerings, which in addition to clear aligners and laser hair reduction, also includes acne removal, anti-ageing, teeth whitening and dental hygiene products.

“makeO is on a mission to offer advanced clinical cosmetic solutions to every Indian that helps them look and feel good, and we're excited to join them on this journey,” said Sameer Nath, chief information officer and head, venture capital and private equity, 360 ONE Asset.

The company last raised $40 million (over Rs 305 crore) in a round of funding from a clutch of investors, including veteran banker Aditya Puri, Eight Roads Ventures, Paramark and IIFL, in May 2022.

Later in May of 2023, Moneycontrol earlier reported that Toothsi laid off about 20 to 30 employees in an attempt to extend its runway, amid a delay in closing the funding round.