MakeO, the parent of clear aligner brand Toothsi, has raised ₹90 Cr (about $9.4 Mn) in a funding round led by Singularity AMC, with participation from DSP family office, Genesis, and Unispace Ventures.
The Mumbai-based startup will use the fresh capital to expand its offline presence across India and Southeast Asia and strengthen its manufacturing operations. It will also invest in consumer experience, clinical centres, and backend technology.
MakeO is also evaluating acquisitions of dental and aligner businesses across India and Southeast Asia as part of its offline expansion
The fundraise follows its acquisition of Singapore-headquartered Zenyum, which expanded its presence across Southeast Asia. MakeO had announced an agreement to acquire Zenyum in February.
In 2025, it also acquired Apple Dental for ₹10.9 Cr in a cash-and-stock deal. The chain operates 20 clinics across Andhra Pradesh and Telangana, extending MakeO’s offline presence beyond major Indian cities.
Following the Zenyum acquisition, the combined group has a network of around 1,100 partner dentists across 10 countries. It also operates more than 60 offline clinical centres and has served over 4 Lakh consumers, according to the startup.
Founded in 2018 by Arpi Mehta, Pravin Shetty, Manjul Jain and Anirudh Kal, makeO initially offered teeth aligners under the brand toothsi. In 2022, it merged its brands toothsi and skinnsi under makeO to offer dental, skin and hair treatments on one platform.
MakeO had raised over $100 Mn before the latest round from investors including Eight Roads Ventures, 360 ONE Asset, and Paramark Ventures. Its earlier fundraises include ₹100 Cr in June last year and a $16 Mn round led by 360 ONE Asset and the investment office of Ashish Kacholia in January 2024.
MakeO said its combined business has crossed ₹500 Cr in revenue and turned EBITDA profitable earlier this year. It aims to double revenue over the next two to three years.
The startup’s expansion plans come amid projected growth in India’s clear aligner market. According to Market Research Future, the market is projected to grow from $466.99 Mn in 2025 to $2.83 Bn by 2035, at a CAGR of 19.74%.
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