Get All Access for $5/mo

Clove Dental's Parent Raises $50Mn From QIA The group plans to use the investment to grow the dental clinical network, expand smile-enhancing solutions, and develop a therapeutic oral care product range.

By Priya Kapoor

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Amarinder Singh, Founder and CEO, Global Dental

After raising $66 million led by Investcorp, Global Dental Services, the parent of oral care start-up Clove Dental has raised an equity investment of $50 million from the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.

The total investment of $116 million will be used to grow the dental clinical network, expand smile-enhancing solutions, and develop a therapeutic oral care product range, according to the company. Founded in 2011, the company operates 422 company-owned and managed dental clinics under the "Clove Dental" banner, spread across 24 cities in 12 states.

Said Amarinder Singh, Founder and CEO, Global Dental, "The investment from QIA will enable the group to pursue its ambitious growth plans. in both existing and new Tier I and II cities across India, ensuring that more Indians have access to reliable, high-quality, and affordable dental care."

It is reported that the investment comes as QIA looks to further diversify its portfolio in India's fast-growing economy and comes on the back of recent investments in India within the technology, media and telecoms sector, retail sector, and green energy investments. Said Sheikh Faisal Thani Al-Thani, Chief Investment Officer, Africa & APAC at QIA, "We are committed to supporting innovative companies with high growth potential and see great potential in India's fast-growing healthcare and retail markets. We have been impressed by the company's rapid expansion across the country and look forward to welcoming them to our diverse global healthcare portfolio,"

Louis Shakinovsky, Chairman, Global Dental, said, "From inception, we have been selective in whom we bring on as partners and shareholders. At Global Dental, we have made significant investments in people, technology, equipment, and infrastructure."

Clove clinics are managed by a team of over 1,010 dentists.

Priya Kapoor

Former Feature Editor

Priya holds more than a decade of experience in journalism. She has worked on various beats and was chosen as a Road Safety Fellow in 2018, wherein she produced many in-depth & insightful features on road crashes in India. She writes on startups, personal finance and Web3. Outside of work, she likes gardening, driving and reading. 

 

 

 

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Starting a Business

10 Traits of Successful Entrepreneurs That Investors Love (Even If They Seem Like Jerks)

This article explores a thought-provoking question: Why do many successful entrepreneurs exhibit traits that might label them as "jerks?"

Business News

Macy's CEO Confirms Employee Made Accounting Errors Worth $151 Million, Though Not for 'Personal Gain'

The company announced its third-quarter earnings Wednesday after a delay.