In the dynamic landscape of healthcare startups, makeO stands tall as a beacon in the realm of dermatology and dental solutions. Behind its innovative strides and expansion plans lies a network of strategic investors who have recognized the potential of this burgeoning enterprise. Understanding the backers behind makeO’s mission unveils a story of confidence in its vision and a commitment to revolutionize the accessibility and quality of clinical cosmetic solutions.
Who led the recent funding round of makeO in the dermatology and dental sector?
The recent injection of $16 million into makeO’s coffers was spearheaded by 360 ONE Asset, a prominent investment firm known for its strategic initiatives in promising ventures. Alongside this significant contribution stood the investment office of Ashish Kacholia, a well-known figure in public markets investing. Their combined leadership in this funding round signifies a collective belief in makeO’s potential to redefine the dermatology and dental sectors.
Which investors continue to support makeO’s mission and demonstrate confidence in its growth?
The foundation of makeO’s success extends beyond a single funding round. Existing investors such as Eight Roads Ventures, Paramark Ventures from South Korea, and the family office of Medlife’s co-founders, Prashant Singh and Tushar Kumar, have continued their support, showcasing a steadfast trust in the company’s trajectory. Their sustained backing underscores the confidence in makeO’s mission to democratize access to high-quality cosmetic solutions.
Who are the founders behind makeO, and what was their approach to revolutionizing the healthcare sector?
Founded in 2018 by orthodontists Dr. Arpi Mehta Shah, Dr. Pravin Shetty, Dr. Manjul Jain, and Dr. Anirudh Kale, makeO initially introduced Toothsi, its clear aligner brand, to the market. The subsequent creation of the umbrella brand ‘makeO’ in 2022 signaled an evolution, expanding their offerings to encompass skin, smile, and hair makeovers. The leadership’s visionary approach has attracted not only investors but also prominent personalities like cricketer Virat Kohli and actor Anushka Sharma as brand ambassadors, further validating makeO’s credibility.
What are makeO’s objectives in terms of accessibility and quality in the clinical cosmetic solutions market?
With a clientele exceeding 150,000 individuals, makeO’s services span a spectrum of clinical-grade solutions. From clear aligners and laser hair reduction to acne removal, anti-aging treatments, teeth whitening, and dental hygiene products, the company has positioned itself as a comprehensive destination for cosmetic care. The infusion of capital is earmarked to fortify both online and offline service delivery, aiming to offer unparalleled convenience to its customers.
How has makeO navigated obstacles, particularly in funding delays, and what strategies are in place for its future progression?
While the recent funding success bolsters makeO’s trajectory, the journey hasn’t been without its hurdles. Reports in May 2023 highlighted the layoffs of 20 to 30 employees at Toothsi amid funding delays. However, makeO’s resilience and adaptive strategies are evident as it forges ahead to enhance its market presence and customer experience.
The investors backing makeO’s mission in the dermatology and dental sector stand as pillars of support, aligning their resources with a company driven by a vision of accessibility, quality, and innovation. As makeO continues to expand its footprint and services, these investors remain integral to propelling the company towards its goal of making advanced clinical cosmetic solutions accessible to every individual, further cementing its position as a trailblazer in the healthcare startup domain.