New Delhi, Feb. 11 -- Dental and skincare company makeO, backed by Eight Roads Ventures and 360 ONE Asset, has struck its second acquisition in over six months by agreeing to buy a Singapore-based consumer dental care firm.
The parent of dental makeover brand Toothsi and skincare brand Skinni said it will acquire Zenyum, positioning makeO as a pan-Asian dental care platform. The terms of the transactions were not disclosed.
This marks makeO's second acquisition in a little over six months. In the previous deal, the company acquired dental chain Apple Dental International, which operates 20 clinics across Andhra Pradesh and Telangana.
makeO said the acquisition enhances its position in orthodontics and consumer oral-care products, with India serving as its strategic and manufacturing hub.
From a strategic standpoint, makeO said the acquisition will help it export its clear aligner products across Asia, expand footprint across 10 countries, and serve customers in key markets such as India, Taiwan, and Hong Kong. The company will also sell US FDA-approved aligner appliances across age groups.
Following the acquisition, the combined entity will have revenues of over Rs 500 crore ($55.1 million). makeO's India business is currently at breakeven, a spokesperson said, adding that the combined entity is expected to turn profitable in the next two quarters.
"This acquisition is a milestone for the Indian dental-tech industry. Our partnership with Zenyum will enable us to accelerate our clinical and product capabilities to serve millions across Asia," said Arpi Mehta, chief executive officer of makeO.
The company said it aims to double its offline presence to over 120 dental centres as part of its "bottomline focused" growth strategy. makeO is exploring selective M&A opportunities and partnerships with strong local dental chains and clinical practices to scale operations and deepen its presence in high-potential markets such as India, Singapore, Taiwan, and Hong Kong.
Founded in 2018, Zenyum is led by Julian Artope and offers 3D-printed clear aligners, electric toothbrushes, and a range of oral-care products. It connects professional dentists with technology-driven solutions for cosmetic dental treatments. Its products are sold across Singapore, Malaysia, Vietnam, Japan, Taiwan, and Hong Kong. The company has raised capital from Peak XV, L Catterton, and RTP Global.
makeO was founded in 2018 by orthodontists Arpi Mehta, Pravin Shetty, Manjul Jain, and Anirudh Kale as a digital-first clinical makeover platform offering smile, skin, and hair treatment solutions. Its Toothsi brand offers doctor-led, customized invisible aligner treatments priced comparable to traditional braces, and operates over 60 clinical centres across India.
In 2024, it raised $16 million (Rs 135 crore then) in a round led by 360 ONE Asset and the investment office of public markets investor Ashish Kacholia. Existing investors Eight Roads Ventures, South Korea-based Paramark Ventures, the family office of Medlife co-founders Prashant Singh and Tushar Kumar also participated in the round.
Earlier, it raised $5 million in its Series A round in January 2020 from Think Investments and others, followed by a $20 million Series B round led by Eight Roads Ventures in August 2021, and a Series C round in 2022 backed by investors such as Eight Road Ventures and IIFL.
Published by HT Digital Content Services with permission from VC Circle.