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HONG KONG, Oct 13 (Reuters) – MakeO, the parent of Singapore-based dental and oral-care company Zenyum, has raised $10 million to expand across Asia and pursue acquisitions, the companies said on Tuesday.
- Investment firm Singularity AMC led the funding round, joined by funds and family offices from India and Singapore
- The money will help expand Zenyum’s network of partner dentists in Southeast and North Asia, strengthen shared technology systems and increase the group’s manufacturing capacity, the companies said
- Zenyum became part of MakeO earlier this year, creating a group with about 1,100 partner dentists in India, Singapore, Malaysia, Vietnam, Taiwan, Hong Kong and Japan
- MakeO designs and makes clear teeth-straightening devices at a facility in India’s Mumbai metropolitan region. The devices are offered through Toothsi in India and Zenyum in Southeast and North Asia
- The group said annual recurring revenue had exceeded S$70 million ($54.7 million) and that it was profitable on an EBITDA basis
($1 = 1.2804 Singapore dollars)
Reporting by Yantoultra Ngui; Editing by Jan Harvey
