Funding News

MakeO (Toothsi) Raises ₹90 Crore to Conquer Dental Tech Across India and Southeast Asia

By Mustafa Shariff, Editor in Chief · October 15,2026 · 2 mins read

Mustafa Shariff, Editor in Chief — MakeO (Toothsi) Raises ₹90 Crore to Conquer Dental Tech Across India and Southeast Asia

Summary

  • MakeO (Toothsi) raises ₹90 crore led by Singularity AMC to scale dental tech in India and Southeast Asia
  • Mumbai-based MakeO, parent of Toothsi, has closed a ₹90 crore funding round led by Singularity AMC. The EBITDA-profitable dental tech company plans to expand clinical centres and pursue acquisitions across India and Southeast Asia.

"EBITDA profitable, 4-lakh customers served, now eyeing acquisitions — MakeO is consolidating consumer dental care."

On 13 October 2026, Mumbai-based MakeO — the parent company of clear-aligner brand Toothsi — announced the closure of a ₹90 crore funding round. The round was led by Singularity AMC, with participation from DSP family office, Genesis, and Unispace Ventures. This brings MakeO's total external fundraise to over ₹700 crore (including earlier rounds from Eight Roads Ventures, 360 ONE Asset, and Paramark Ventures).
What MakeO Does
MakeO was founded in 2018 by Arpi Mehta, Pravin Shetty, Manjul Jain, and Anirudh Kal. It began as Toothsi, offering at-home clear aligners — a disruptive alternative to conventional braces at a fraction of the cost and without clinic visits. Over time, it evolved into a multi-service consumer dental brand, merging Toothsi with Skinnsi (skin and hair) in 2022 to offer dental, skin, and hair treatments on one platform under the MakeO umbrella. Today it runs over 60 offline clinical centres and has a network of around 1,100 partner dentists across 10 countries. MakeO has served over 4 lakh (400,000) consumers and reports combined revenue above ₹500 Cr.
Financial Milestone: EBITDA Profitability
Perhaps the most significant marker in the announcement is that MakeO crossed EBITDA profitability earlier in 2026. This is materially important for a consumer health startup in the Indian market, where investor expectations have shifted decisively from growth-at-all-costs to capital-efficient, sustainable expansion. MakeO's profitability milestone — achieved while operating across dental, skin, and hair categories — suggests the business model has matured. It also strengthens the company's position to pursue acquisitions without diluting its balance sheet.
International Expansion: Zenyum and Southeast Asia
A defining move in MakeO's international ambition was its acquisition of Singapore-headquartered Zenyum in February 2026 — a well-capitalised dental aligners and oral care brand with strong market presence across Southeast Asian markets including Singapore, Indonesia, Malaysia, Thailand, Vietnam, and the Philippines. Zenyum brought a consumer-facing brand, distribution infrastructure, and a network of partner dentists. With this ₹90 crore round, MakeO intends to deepen its Southeast Asia presence further — both organically through Zenyum and inorganically through acquisitions of dental and aligner businesses in the region. India's domestic clear aligner market is projected to grow from $467 Mn in 2025 to $2.83 Bn by 2035 (CAGR of ~20%) per Market Research Future, and MakeO is positioning itself to capture a leading share in both India and Southeast Asia.
Acquisition Strategy: Dental Consolidation
MakeO has a track record of bolt-on acquisitions — it picked up Apple Dental in 2025 for ₹10.9 crore, adding 20 clinics across Andhra Pradesh and Telangana to its offline network. The company is now evaluating acquisitions of dental and aligner businesses across India and Southeast Asia, using this round partly as an acquisition war chest. The dental care market in India is highly fragmented — dominated by independent single-clinic practitioners — which creates significant consolidation opportunities for a tech-enabled platform with national brand recognition.
Use of Funds
The ₹90 crore will go toward four priorities: expanding offline clinical centres across Tier 1 and Tier 2 cities in India; strengthening manufacturing operations (MakeO manufactures its aligners in-house); investing in consumer experience and backend technology including AI-assisted treatment planning; and funding acquisitions in India and Southeast Asia. The company aims to double revenue over the next two to three years.
BHC Perspective
Dental health is one of the most underserved categories in India's healthcare ecosystem. Access to quality dental care — particularly orthodontic and cosmetic treatments — has historically been limited to affluent urban consumers, while preventive and restorative dental care remains out of reach for the majority. MakeO's model — combining technology-enabled treatment planning, consumer-friendly pricing, and a growing offline clinical network — is genuinely democratising access. For the Bengaluru Health Community, this round is a signal that consumer dental healthtech is entering its consolidation phase. Investors and founders in the dental, aesthetics, and oral care space should take note.
Frequently Asked Questions
Q: What is the difference between MakeO and Toothsi?
A: Toothsi was the original brand name of MakeO's clear aligner product. MakeO is the parent company name and umbrella brand, under which Toothsi (dental aligners), Skinnsi (skin and hair treatments), and the Zenyum portfolio now operate. MakeO rebranded its parent entity to reflect its evolution from a single-product company to a multi-category consumer health platform.
Q: How does MakeO's pricing compare to traditional orthodontic treatment?
A: Traditional braces from an orthodontist in India typically cost ₹25,000 to ₹80,000 and require monthly clinic visits. MakeO's Toothsi aligners have historically been priced at ₹30,000 to ₹70,000 depending on complexity, but include a remote monitoring model that reduces the need for in-person visits. For mild to moderate cases, this is cost-competitive with traditional braces while offering greater convenience.
Q: What is Singularity AMC and why is it investing in MakeO?
A: Singularity AMC is an Indian alternative asset management company known for its focus on growth-stage consumer and technology companies. Leading this round signals institutional confidence in MakeO's post-EBITDA-profitability trajectory and its Southeast Asia consolidation thesis. AMC participation (as opposed to pure VC funding) often signals an expectation of near-term liquidity events such as a public listing or strategic sale.
Q: Is MakeO planning an IPO?
A: MakeO has not publicly announced IPO plans as of this round. However, having crossed EBITDA profitability and ₹500 Cr in revenue, the company meets the financial threshold that has historically preceded Indian consumer healthtech listings. Investors from this round — particularly AMC-backed capital — typically expect a 3-5 year liquidity horizon, which aligns with a potential IPO window in 2028-2030.