Healthtech startup makeO, the parent company of dental tech platform toothsi, has shown significant financial improvement in the fiscal year 2023-24. With a narrowed consolidated net loss of 32.08%, makeO reported operating revenue growth of 6.23% to INR 178.94 Cr. The startup also managed to reduce its EBITDA loss to INR 120.95 Cr, showcasing a remarkable improvement in its financial performance.
Founded by Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale in 2018, toothsi has revolutionized the dental industry with its tech-based teeth alignment platform. The establishment of makeO in 2022 as an umbrella brand has further solidified the company’s position in the market.
toothsi’s product offerings, including clear dental aligners and various oral care products, have contributed to the revenue growth, with a reported revenue of INR 122.17 Cr in FY24. Additionally, skinnsi, under the makeO brand, has seen a surge in revenue by almost 8% to INR 51.73 Cr in the same fiscal year.
makeO’s expansion strategy includes running more than 20 experience centers nationwide, offering dental and skin care services along with consultations from experts in the field. With a team of over 100 in-house doctors, makeO has positioned itself as a leader in the health and wellness industry.
Last year, makeO secured significant funding to support its growth and expansion plans. A funding round led by 360 ONE Asset and Ashish Kacholia’s investment office injected $16 Mn (INR 135 Cr) into the startup. Subsequently, in May 2022, makeO raised $40 Mn in its Series C funding round, emphasizing its commitment to deeper geographic penetration and category expansion.
Despite the revenue growth, makeO managed to reduce its total expenditure by 16% in FY24, showcasing a strategic approach to cost management. Employee costs, marketing expenses, and miscellaneous expenses were all optimized to ensure financial sustainability and growth.
In conclusion, makeO’s financial performance in FY24 reflects its resilience and strategic vision in the competitive healthtech industry. With a focus on innovation, customer-centric solutions, and sustainable growth strategies, makeO is poised for continued success in the coming years.
—
Frequently Asked Questions
- How did makeO improve its financial performance in FY24?
- makeO narrowed its consolidated net loss and reduced its EBITDA loss significantly, showcasing improved financial health.
- What are the key products offered by toothsi and skinnsi?
- toothsi offers clear dental aligners and oral care products, while skinnsi provides skin care and hair reduction treatments.
- How many experience centers does makeO operate?
- makeO runs more than 20 experience centers across the country, offering dental and skin care services.
- Who are the founders of makeO and toothsi?
- Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale are the founders of makeO and toothsi.
- What funding rounds has makeO secured recently?
- makeO raised $16 Mn in a funding round led by 360 ONE Asset and Ashish Kacholia’s investment office, followed by $40 Mn in its Series C funding round.
- How has makeO managed its total expenditure in FY24?
- makeO reported a 16% decline in overall expenses in FY24, optimizing costs across employee remuneration, marketing, and miscellaneous expenses.
- What is the revenue growth of toothsi and skinnsi in FY24?
- toothsi’s revenue increased by 5.44%, reaching INR 122.17 Cr, while skinnsi saw a revenue surge of almost 8% to INR 51.73 Cr in FY24.
- What services are offered at makeO’s experience centers?
- makeO provides dental and skin care services along with consultations from orthodontists, dentists, and dermatologists at its experience centers.
- How has makeO positioned itself in the health and wellness industry?
- With a team of over 100 in-house doctors and a wide range of services, makeO has established itself as a leader in the health and wellness sector.
- What are makeO’s growth plans for the future?
- makeO aims to expand its geographic footprint, scale its experience centers, and focus on deeper penetration and category expansion in the coming years.
—
Tags: Healthtech, Startup, Financial Performance, Revenue Growth, Funding, Expansion, Health and Wellness, Dental Tech, Skin Care. "5 Strategies for Scaling Your Startup Successfully"
Would you like a summary of the article or specific information from it?
- makeO aims to expand its geographic footprint, scale its experience centers, and focus on deeper penetration and category expansion in the coming years.
[/gpt3]
