Dentalkart, an online marketplace specializing in dental supplies, has successfully raised Rs 85 crore in its latest funding round. The investment was led by foreign institutional investors Malabar Investment and Whiteoak, with Malabar Investment contributing Rs 65 crore and Whiteoak investing Rs 20 crore. The company plans to utilize these funds to scale its operations and expand its subsidiaries.
Founded in 2016 by Manish Kumar, Vikas Agarwal, and Sandeep Aggarwal, Dentalkart is an NSE-listed company offering a comprehensive selection of dental products. The platform features over 22,000 products across 700 categories, sourced from more than 500 manufacturers. With a mission to provide high-quality, affordable dental supplies, the company has become a significant player in the Indian dental marketplace.
Dr. Vikas Agarwal, CEO of Dentalkart, expressed his excitement over the successful fundraising and the confidence placed in the company by its investors. “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,” Dr. Agarwal said. “This investment comes at a pivotal time as we work to expand our presence, broaden our reach and scale our subsidiaries,” he added.
Malabar Investments, which led the funding, praised Dentalkart’s deep understanding of customer needs in the dental industry. Sumeet Nagar, Founder and Managing Partner of Malabar Investments, commented, “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.”
In a bid to strengthen its leadership team, Dentalkart recently appointed Rohan Bhatt as a non-executive director to the company’s board. This strategic appointment aims to help shape the company’s future direction and support its accelerated growth.