MakeO, the parent company of clear aligner brand Toothsi, has raised Rs 90 crore (about USD 9.4 million) in a fresh funding round led by Singularity AMC. The DSP family office, Genesis and Unispace Ventures also participated in the round. The Mumbai-based company will use the capital to expand its offline presence and strengthen its manufacturing operations.
The raise adds to a network that MakeO has assembled over the past two years through a string of acquisitions. It also comes as demand for clear aligners and cosmetic dental care is projected to grow sharply in India over the next decade. MakeO runs a consumer dental, skin and hair care platform, and it has not disclosed the valuation at which the latest round was raised.
The Funding Round and Its Investors
Singularity AMC anchored the new round, which also drew participation from the DSP family office, Genesis and Unispace Ventures. MakeO has been backed by institutional investors since its early years. Before this round, the company had raised more than USD 100 million from investors including Eight Roads Ventures, 360 ONE Asset and Paramark Ventures. Its earlier fundraises include Rs 100 crore in June last year and a USD 16 million round in January 2024, led by 360 ONE Asset, with Ashish Kacholia’s investment office also investing.
How the Company Will Use the Funds
MakeO will expand its offline footprint across India and Southeast Asia, its two focus markets. Along with new clinical centres, the company plans to invest in consumer experience and backend technology, and to strengthen its manufacturing operations. The fresh capital is aimed at supporting these plans as the company scales its clinic network and tries to keep pace with demand.
Acquisitions and the Southeast Asia Push
The fundraise follows MakeO’s acquisition of Singapore-headquartered Zenyum, an agreement that was announced in February and widened its reach across Southeast Asia. In 2025, MakeO also acquired Apple Dental in a cash-and-stock deal worth Rs 10.9 crore. That chain runs 20 clinics across Andhra Pradesh and Telangana, which pushed the company beyond the largest Indian cities.
After the Zenyum deal, the combined group works with about 1,100 partner dentists across 10 countries and operates more than 60 offline clinical centres. MakeO says it has served over 4 lakh consumers so far.
Read more: In the same consumer health and personal-care space, Nat Habit raised Rs 142.6 crore in a Series C funding round led by Trident Growth Partners to scale its daily-use wellness products.
Revenue, Profitability and the Road Ahead
MakeO says its combined business has crossed Rs 500 crore in revenue and turned EBITDA profitable earlier this year. The company is targeting a doubling of revenue over the next two to three years. It is also evaluating acquisitions of dental and aligner businesses in India and Southeast Asia, continuing a strategy it has run for about two years.
Background and the Founders
MakeO was founded in 2018 by Arpi Mehta, Pravin Shetty, Manjul Jain and Anirudh Kal. It began with teeth aligners under the Toothsi brand and, in 2022, merged Toothsi and Skinnsi under the MakeO name to offer dental, skin and hair treatments on a single platform. The company competes in a market where branded chains and direct-to-consumer models are both expanding.
Market Opportunity and What Comes Next
India’s clear aligner market is projected to grow from USD 466.99 million in 2025 to USD 2.83 billion by 2035, a compound annual growth rate of about 19.74 percent, according to Market Research Future. MakeO’s expansion is timed to that curve, with the company scaling clinics and manufacturing as demand for clear aligners is expected to accelerate. The new capital and the acquisition pipeline will decide how quickly it converts that opportunity into a larger offline presence.
