Global Dental Services secures $50M investment from QIA
The company said the total investment of $116 million, which includes $66 million funding from Investcorp in November last year, will be used to expand Clove Dental's clinical network, expand smile-enhancing solutions, and develop a therapeutic oral care product range.
Global Dental Services, which operates nationwide chain of oral care clinics , has raised a strategic equity investment of $50 million from Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar.
It raised $66 million in growth funding led by in November last year.
The total investment of $116 million (Rs 963 Crore) will be used to rapidly expand Clove Dental's clinical network, expand smile-enhancing solutions, and develop a therapeutic oral care product range.
“This investment will enable us to pursue our growth plans in both existing and new tier I & II cities across India, ensuring that more Indians have access to reliable, high-quality, & affordable dental care” said Amarinder Singh, Founder & CEO of Global Dental.
Global Dental Services (GDS) is a tech-enabled platform offering products and services for oral health, dental beauty, and at-home care.
It operates "Clove Dental," India's largest network of copany-owned and managed dental clinics. GDS recently launched a new dental beauty brand, "Whistle," offering customised smile-enhancing solutions.
The company also operates a third D2C business, therapeutic toothpastes and everyday care products under the Clove banner. GDS also has several B2B businesses, including Yarrow Dental Laboratory and xMedco.
Founded in 2011 by Singh, Clove Dental is a network of dental clinics that has over 45,000 monthly patients, and claims to have completed 30 lakh treatments in the last 12 years. It employs over 1,000 dentists in more than 422 company-owned and managed clinics across India.
The clinics offer standard operating procedures, standardised pricing, non-commission-based compensation systems, in-clinic audits, peer-to-peer case reviews, and AI-based chair sterilisation systems in India and globally.
“We are committed to supporting innovative companies with growth potential and sees great potential in India’s fast-growing healthcare and retail markets. We have been impressed by Clove’s rapid expansion across India, commitment to quality, and innovative approach to dental care and look forward to welcoming them to our diverse global healthcare portfolio," said Sheikh Faisal Thani Al-Thani, Chief Investment Officer, Africa & APAC at QIA.
Edited by Megha Reddy