MakeO, the parent of clear aligner brand Toothsi, has raised Rs 90 crore in a fresh funding round. That works out to about USD 9.4 million. Singularity AMC led the round.
DSP family office, Genesis and Unispace Ventures also participated. The Mumbai-based company will use the money to expand its offline presence and its manufacturing operations.
What MakeO Will Do With The Money
MakeO will expand its offline presence across India and Southeast Asia. It will also strengthen manufacturing and invest in consumer experience, clinical centres and backend technology.
Read More: Agentic Video Startup Clueso Raises $10 Million Series A
The company is evaluating acquisitions of dental and aligner businesses in both markets. That is a continuation of a strategy it has already been running for two years.
Read More: Mesa School of Business Raises Rs 110 Crore Co-Led By Dharana Capital
The Acquisition Run
The raise follows MakeO’s acquisition of Singapore-headquartered Zenyum, which widened its reach across Southeast Asia. The agreement to acquire Zenyum was announced in February.
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 major Indian cities.
After the Zenyum deal, the combined group works with about 1,100 partner dentists across 10 countries. It operates more than 60 offline clinical centres and says it has served over 4 lakh consumers.
Business Numbers
MakeO says its combined business has crossed Rs 500 crore in revenue. It also turned EBITDA profitable earlier this year, and it aims to double revenue over the next two to three years.
The company has raised over USD 100 million across its life before this round. Its investors include Eight Roads Ventures, 360 ONE Asset and Paramark Ventures. Earlier rounds include Rs 100 crore in June last year. In January 2024 the company raised USD 16 million, led by 360 ONE Asset with Ashish Kacholia’s investment office.
MakeO was founded in 2018 by Arpi Mehta, Pravin Shetty, Manjul Jain and Anirudh Kal. It started with teeth aligners under the toothsi brand. In 2022 it merged toothsi and skinnsi under the makeO name, offering dental, skin and hair treatments on one platform.
The Market Opportunity
India’s clear aligner market is projected to grow from USD 466.99 million in 2025 to USD 2.83 billion by 2035. That works out to a compound annual growth rate of about 19.74 percent, according to Market Research Future.
MakeO’s expansion is timed to that curve. The company is scaling clinics and manufacturing at the point when demand for clear aligners is expected to accelerate fastest.