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Toothsi parent MakeO reports flat revenue in FY24; losses trim 32%

EntrackrEntrackr · 6m ago
Toothsi parent MakeO reports flat revenue in FY24; losses trim 32%
Medial

Toothsi parent MakeO reports flat revenue in FY24; losses trim 32% Following over twofold growth in FY23, MakeO, the parent company of Toothsi and skincare brand Skinnsi, reported stable revenue for the fiscal year ending March 2024, but succeeded in reducing its losses by 32%. MakeO’s revenue from operations saw a modest increase of 6.5% to Rs 179 crore in FY24 from Rs 168 crore in FY23, according to its consolidated financial statements filed with the Registrar of Companies. Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO began as the aligner brand Toothsi and later consolidated its flagship brands, including Skinnsi, to offer dental, skin, and hair treatment solutions. The sale of tooth aligners accounted for 69.2% of the operating revenue, increasing by 7% to Rs 124 crore in FY24. The rest of the revenue came from Skinnsi services, including laser hair reduction, facials, anti-aging treatments, and skincare products. Employee benefits remained the largest cost center at 36% of overall expenditure, amounting to Rs 119 crore in FY24. Consultant fees and marketing costs were reduced by 57% and 24%, respectively, to Rs 26 crore and Rs 69 crore in FY24. Other expenses totaled Rs 332 crore in FY24, down from Rs 395 crore in FY23. The cutback in costs helped MakeO reduce its losses by 31.8% to Rs 150 crore in FY24 from Rs 220 crore in FY23. Its ROCE and EBITDA margin stood at -77.3% and -66.12% with an expense-to-earnings ratio of Rs 1.85. At the end of FY24, MakeO’s current assets were Rs 153 crore with cash and bank balances of Rs 93 crore. MakeO has raised over $90 million to date, including $16 million led by 360 One Asset and the investment office of Ashish Kacholia. Eight Roads Ventures is the largest external stakeholder, followed by Think Investment.

Toothsi parent MakeO set to raise funds at 50% valuation cut

EntrackrEntrackr · 3m ago
Toothsi parent MakeO set to raise funds at 50% valuation cut
Medial

MakeO, the parent of dental tech startup Toothsi and skincare brand Skinnsi, to secure Rs 54.7 crore (around $6.43 million) fresh funding round led by existing investors Siddharth Shah (Co-founder & CEO of Pharmeasy) with the participation of Mahendra Shah. Existing backers including 360 One, Eight Roads Ventures, Paramark Ventures, Ashish Kacholia and others also joined the round. The board at makeO passed a special resolution to approve the issuance of 5,80,072 CCPS at an issue price of Rs 943.7 each to raise the sum, which is around 57% lower than its previous round of funding, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Siddharth Shah will lead the Rs 20 crore investment round, followed by Mahendra Shah and 360 One, who will each contribute Rs 10 crore. Paramark Ventures and Eight Roads Ventures will invest Rs 4.35 crore each, while the remaining amount will be covered by Ashish Kacholia, Siddhant Partners, and R.B.A Finance & Investment Co. The company has already received Rs 10 crore from Mahendra Shah, with the remaining amount expected to follow soon. The filings further noted that the company plans to utilize the fresh capital for general corporate purposes. Founded in 2018 by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal, MakeO began as the aligner brand Toothsi. In September 2022, it merged its flagship brands, Toothsi and Skinnsi to launch MakeO, offering dental, skin, and hair treatment solutions under a single platform. The Anushka Sharma and Virat Kohli-backed company will be valued at Rs 1,055 crore ($124 million), marking a valuation cut of over 50% compared to its previous $16 million funding round in January 2024 led by 360 One, which valued the company at around Rs 2,231 crore or $ 265 million. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised over $90 million to date including $40 million raised in Series C round in May 2022. While the company is yet to disclose its FY25 figures, its operating revenue in FY24 saw a marginal increase to Rs 179 crore. However, it reduced its losses by 32% to Rs 150 crore during the same period.

Salt Oral Care raises $1 Mn in pre-Series A round led by Lotus Holdings

EntrackrEntrackr · 3m ago
Salt Oral Care raises $1 Mn in pre-Series A round led by Lotus Holdings
Medial

Oral wellness brand Salt Oral Care has picked up $1 million in pre-Series A funding round from Lotus Holdings (Lotus Herbals Family Office). The investment will be executed in two tranches, with the company’s average post-money valuation across the round pegged at Rs 46 crore ($5.3 million). The Mumbai-based company had previously raised $358K from Saurashtra Capital and others. The proceeds will be allocated towards new product innovation, research & development, branding and marketing initiatives, and team expansion, Salt Oral Care said in a press release. Co-founded in 2022 by Karan Raj Kohli and Viraj Kapur, Salt Oral Care is a homegrown Indian oral care brand that focuses on providing science-backed oral care products for all, with a commitment to sustainability and eco-friendly practices. It aims to create oral care products that are both effective and mindful of the environment. The brand strives to blend sustainability with a luxurious experience, offering products with reusable and recyclable containers. Salt Oral Care emphasizes the use of scientific research and rigorous testing in their product development. It prioritizes sustainable practices, including eco-friendly packaging and reducing their environmental impact. Salt says its portfolio including toothpaste and mouthwash has seen a surge in repeat purchases, driven by the brand’s positioning, minimalist aesthetic, and clinically backed performance. The brand plans to expand its footprint across India and international markets. It claims to have recorded a 448% growth over the last financial year.

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia

EntrackrEntrackr · 6m ago
ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia
Medial

ErlySign raises $1.8 Mn in pre-Series A round from Ashish Kacholia Healthtech startup ErlySign has raised Rs 16 crore ($1.8 million) in its pre-Series A round from Ashish Kacholia. The proceeds will be used in clinical trials, securing CDSCO (Central Drugs Standard Control Organisation) approvals, and bringing ErlySign’s oral cancer detection kit to market. Founded in 2019 by Shubhendra Singh Thakur and Deovrat Begde, ErlySign develops solutions for early detection of oral cancer. The startup also claims to offer India’s first salivary biomarker-based test which can identify pre-cancerous conditions much before visible symptoms emerge. Looking ahead, ErlySign plans to use CRISPR miRNA-based testing technology to detect multiple types of cancer using the same saliva sample within 15–20 minutes.

Cura Care Raises Rs 5 Cr in pre-Seed round led by Zeropearl VC

EntrackrEntrackr · 3m ago
Cura Care Raises Rs 5 Cr in pre-Seed round led by Zeropearl VC
Medial

At-home wellness services brand Cura Care has raised Rs 5 crore in a pre-seed funding round led by Zeropearl VC, with participation from friends, family, and notable angel investors, including Shripad Nadkarni and the late Rohan Mirchandani. The fresh funds will be used to validate its product-market fit and enhance its customer promise by delivering exceptional at-home wellness experiences, Cura Care said in a press release. Co-founded in January 2025 by Abhinav Kumar, Chinmay Mittal, and Paminder Singh, Cura Care aims to empower oral hygiene in India. The company aims to address the pressing issues surrounding oral health in India, where over 120 crore people are affected by poor oral hygiene. Cura Care aspires to integrate oral wellness into the daily self-care routines of Indians, providing a booking experience and service quality. The company offers premium at-home services like teeth cleaning, scaling, polishing, and whitening, delivered by DCI-certified dentists using customized portable dental units. This model prioritizes hygiene, safety, and convenience for customers. Since its launch, Cura Care claims that it has already served over 1,000 customers through at-home visits and oral wellness camps. The startup boasts an impressive Net Promoter Score (NPS) of over 90% and an average customer rating of 4.87.

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