Dentalkart Secures Rs 85 Cr In Latest Funding Round Led By Malabar And Whiteoak
With strong investor backing, the company plans to enhance its offerings, expand its market presence
Dentalkart, India’s online marketplace for dental shopping has raised Rs 85 crore in its recent funding round. The investment round led by foreign institutional investors - Malabar Investment and Whiteoak demonstrates the company’s commitment to bring a significant shift in the market and solidify its leadership position in the industry.
As part of the investment strategy, Malabar Investment has made an investment of Rs 65 crore and Rs 20 crore has been invested by Whiteoak. To accelerate its growth plans, Dentalkart plans to allocate the funds for the company’s operational scalability and add more subsidiaries.
Delighted with the fund-raise, Vikas Agarwal, CEO of Dentalkart said, “We are elated with our recent fundraise and we acknowledge the belief that Malabar and Whiteoak have in our vision. Their strategic backing will help us accelerate our growth plans and ensure that we remain at the forefront of the dental marketplace in India.”
“This investment comes at a pivotal time as we work to expand our presence, broaden our reach and scale our subsidiaries,” he added.
The investment round is followed by preferential allotment of shares that strategically align with Dentalkart’s forward-looking bets. Often used for pre-IPO funding, the current round reflects the company’s long-term vision of delivering value to its investors and stakeholders.
Optimistic about Dentalkart’s plans, Sumeet Nagar, Founder and Managing Partner, Malabar Investments, said, “We like companies which are able to truly understand customer pain points and solve them. Having experienced the problems first-hand, Vikas and team are best positioned to provide timely access to quality and affordable products to dental practitioners across the country. We are excited to partner with Vasa Denticity in its mission to provide great value to dentists all over India.”
With this fundraise, Dentalkart is poised to redefine the dental landscape in India. With strong investor backing, the company plans to enhance its offerings, expand its market presence.
