Cosmetic solutions startup makeO has successfully raised $16 million (Rs 133 crore) in a recent funding round, led by 360 ONE Asset (formerly IIFL Wealth) and the investment office of prominent public markets investor Ashish Kacholia.
Wednesday, January 10, 2024: This funding round also witnessed participation from existing investors, including Eight Roads Ventures and South Korea’s Paramark Ventures.
Founded in 2018 by a team of accomplished orthodontists—Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kal—makeO has quickly emerged as a key player in the cosmetic industry. The startup offers a digital-first clinical cosmetic makeover platform, providing customers with access to a diverse range of dental, skin, and hair treatment solutions.
The infusion of $16 million in funding marks a crucial milestone for makeO, enabling the company to embark on an ambitious expansion plan across India. The funds will be strategically utilized to widen its footprint and establish additional experience centers, enhancing the accessibility of its innovative cosmetic solutions.
360 ONE Asset’s leading role in this funding round underscores the growing confidence of prominent investors in makeO’s vision and potential impact in the cosmetic solutions market. Ashish Kacholia’s investment office and other existing backers joining the round further validate the startup’s strategic direction and market relevance.
makeO’s founders express their commitment to utilizing the raised capital to offer an enhanced customer experience. With plans to expand across various regions in India, the startup aims to cater to a broader audience seeking advanced cosmetic treatments.
The digital-first approach adopted by makeO has set it apart in the industry, aligning with modern consumer preferences for accessible and innovative solutions. The startup’s comprehensive platform covers dental, skin, and hair treatments, reflecting the founders’ dedication to providing holistic cosmetic solutions.
As the cosmetic industry continues to evolve, makeO stands poised for significant growth and influence with the support of this substantial funding injection. The startup’s innovative platform, coupled with the financial backing from leading investors, positions it as a key player in the dynamic and competitive cosmetic solutions sector.
Source: The Economic Times
