Toothsi parent MakeO raises Rs 90 crore led by Singularity AMC for Asia clinics push

MakeO, the oral care company best known in India for its toothsi clear aligners, has raised about Rs 90 crore in a new funding round led by Singularity AMC, according to reports published on Tuesday, 13 October 2026. A Singapore report put the round at roughly US$10 million (S$13 million). Other backers named in the reports include the DSP family office, Genesis and Unispace Ventures, along with funds and family offices from India and Singapore. The company said the money will go into offline expansion across India and Southeast Asia, covering manufacturing, clinics and back-end technology, and into growing the partner-dentist network of Zenyum, the Singapore aligner brand it bought earlier this year.

Clear aligners became one of the more visible direct-to-consumer health categories in India after the pandemic. Companies sold teeth-straightening plans online, used home scans or small experience centres, and shipped custom plastic trays by post. The model grew quickly but was expensive: heavy advertising and free scanning drove losses across the sector, and several brands have since moved towards partnerships with dentists and physical clinics, where trust is higher and patients can be checked in person.

MakeO's new round fits that shift. Most of the money is going to bricks and mortar rather than marketing: clinics, manufacturing and the dentist network. The Zenyum deal gave the company a ready base in Singapore and other Asian markets, and the fresh capital is meant to build on it. For an Indian consumer health company, using an overseas acquisition as a launch pad into Southeast Asia is still unusual; most Indian D2C brands expand abroad slowly, if at all.

The company's claim of EBITDA profitability matters for the same reason. Investors in Indian consumer start-ups have spent the last two years asking for a clear path to profit rather than growth at any cost. A business that says it is already profitable before interest, tax and depreciation is better placed to raise money on reasonable terms, although EBITDA leaves out some real costs, and the company has not published audited figures for the combined group.

For founders outside the big metros, the round is a reminder that health products sold online still need a physical presence to win trust. For patients, more clinics should mean easier in-person checks, which dentists have long argued are essential for aligner treatment.

Short-term: MakeO is expected to open more clinics and add manufacturing capacity, and Zenyum is expected to sign up more partner dentists in Southeast and North Asia.

Long-term: If the expansion works, MakeO could become one of the few Indian consumer health brands with a real business across Asia, and its shift to clinics may push rivals to follow.

Who is affected: Patients considering aligner treatment in India and Southeast Asia, dentists who partner with aligner brands, competing D2C oral care firms, and investors in Indian consumer health start-ups.

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