India-based dental services chain, Clove Dental, which is run by Global Dental Service, raises funds in the Series D Round.
The funding is led by Investcorp, a Global alternate investment firm investing the sum of 67 million US dollars (about 545 Cr. INR).
Global Dental Service (GDS) operated Clove Dental, plans to use the fund in the expansion of dental Clinics across India.
The dental service chain also aims to expand LoveMySmile(LMS).
LMS is the company’s Direct to consumer (D2C) hybrid model brand offering smile-correcting products.
The products include Aligners, Braces, and Treatment for teeth whitening and other dental issues.
Clove Dental is India’s first Dental industry to get investment from Investcorp.
The CEO of GDS said that the partnership will help the company in expanding the hospitals and add equipment with the latest technology.
The CEO also said that the experienced team and network of the company’s new partners will help the company to grow at an accelerated rate
About The Company
The Dental service chain GDS was set up in the year 2011, founded by Amarinder Singh, which operates 340 clinics in 24 cities and 12 states across India.
The Dental service company harbours a team of 841 dentists and provides a full range of dental treatments and products.
Global Dental Services uses Artificial-Intelligence (AI) based software for safety monitoring at the hospitals.
The company has been adding about 100-200 clinics every year before COVID.
But due to the pandemic, the company has been on hiatus for the last three years.
The company is now aiming to add 1,000 clinics in the next five years and 30 clinics in each city where they are currently present.
The company has also made investments in various sectors like Dental labs, training and recruiting dental assistants, Quality management systems, software, and many more.
Investors in Series D Round
The investors that participated in the Series D funding round were Tybourne Capital Management, SeaLink Capital Partners along with Investcorp.
Company’s existing investors had also participated in the funding round for acquiring the minimum shares, as it is one of the world’s top 15 dental service organizations.
“The capital invested in the business will result in profitable growth & create sustainable social impact. We are excited to partner with and support GDS in this exciting phase of the business.”
Bosun Hau, Tybourne Capital Management Head said.
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