New Delhi [India], January 10: makeO, India’s leading provider of clear aligner and cosmetic dermatology solutions, has raised USD 16 million (INR 135 crores) in a round led by 360 ONE Asset and the investment office of prominent public markets investor, Ashish Kacholia. Existing investors 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 fresh capital raised in this round will support the company’s plans to expand its geographic footprint and scale its experience centers. These centers aim to provide customers a physical space to explore and experience makeO’s portfolio of clinical-grade solutions for smile and skin makeovers. Additionally, the centers also function as physical touchpoints to consult with orthodontists and dermatologists for end-to-end clinical support, ensuring a seamless customer experience.
Speaking about the fundraise, Dr. Arpi Mehta, Founder & CEO, makeO said, “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 centers.”
The company was founded in 2018 by orthodontists-turned-entrepreneurs Dr. Arpi Mehta Shah, Dr. Pravin Shetty, Dr. Manjul Jain, and Dr. Anirudh Kale, with the launch of the flagship clear aligner brand, toothsi. As the vision expanded beyond clear aligners, the company created an umbrella brand ‘makeO’ in 2022; this strategic move solidifies its vision of becoming India’s leading brand for high-quality, clinical-grade solutions for skin, smile and hair makeovers. makeO leads the Indian clear aligner market, having transformed over 100,000 smiles. Its USFDA-cleared aligners, cutting-edge robotic manufacturing process, and ISO-certified 3D printing facility further underscore its focus on adherence to the highest quality standards.
“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, CIO & Head, Venture Capital & Private Equity, 360 ONE Asset.
Ashish Kacholia commented, “Their approach is truly unique. The technology platform coupled with physical and digital expert access at every stage allows makeO, to offer top- notch, customised dental and derma solutions to its customers. We are thrilled to invest in makeO and their vision.”
makeO has 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. At the heart of makeO’s tech-driven approach is a specialized mobile app facilitating remote consultations and monitoring by in-house orthodontists, dentists, and dermatologists for a truly seamless experience. This is further bolstered by a robust offline ecosystem of over 100 in-house orthodontists, dentists, and dermatologists, over 25 flagship experience centers (across top cities including Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune), and 400 partner dental clinics.
makeO is India’s leading digital-first clinical makeover platform that offers consumers access to expert-backed smile, skin and hair treatment solutions in an easy and affordable manner. It is home to toothsi, a US FDA-cleared 3D-printed clear aligner brand. To date, makeO toothsi has designed over 2.5 lakh smile plans through their robust ecosystem of 600+ dental professionals, consisting of more than 100+ orthodontists and in-house dentists, that aid in providing an end-to-end quality-controlled experience to the customer. Founded in 2018 by four orthodontists-turned-entrepreneurs, toothsi is India’s largest clear aligner brand. Some of the offerings in the makeO platform include teeth straightening with clear aligners, laser hair reduction, derma facials, acne and anti-ageing treatments, platelet-rich plasma (PRP) therapy; microneedling treatments for hair fall and baldness, while its product portfolio includes electric toothbrushes, teeth whitening UV kits, teeth whitening pens, aligner accessories, acne treatment kits, face washes, skin toners, moisturizer, and exfoliating peels. All makeO services are available to customers as per their convenience – at home, experience centres or a hybrid of both. Today, makeO is present in over 17 Indian cities and 2 cities in the UAE. For more information: https://makeo.app/
About 360 ONE Asset:
360 ONE Asset Management Limited (“360 ONE Asset”), earlier known as IIFL Asset Management Limited, is one of India’s largest alternate asset managers with overall alternates AUM and public market mandates of more than $7.8 billion*. 360 ONE has a leading Venture Capital and Private Equity platform with more than $2.6 billion AUM*. This platform extends from early-stage to late-stage VC to growth equity to pre-IPO investments, with a focus on technology, financial services, healthcare, and consumer industries. This unique private market platform enables 360 ONE Asset to partner with founders and participate in a company’s life cycle over a longer period.
Additional information is available at https://www.360.one
(*as on Sept 30, 2023)
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