CHENNAI: Total Dental Care - a dental services provider under the brandname MyDentist - has raised series C funding of Rs 50 crore from LGT Venture Philanthropy (a global impact investor) and existing investors Seedfund and Asian Healthcare Fund.
Series C stage generally refers to an expansion stage for companies.
MyDentist said that the funds will be used to increase customer base in their existing markets -- Mumbai, Pune, Surat and Ahmedabad -- and also expand in new cities.
"We are evaluating Delhi, Bangalore, Chennai and Hyderabad markets to decide on new market for expansion," Vikram Vora, promoter and CEO of Mydentist said. Veda Corporate Advisors was the exclusive advisor to the deal.
With a network of over 100 dental clinics, 400 doctors and having served over 2,00,000 patients, MyDentist's provides accessible, affordable and quality dental care to the middle and lower middle class customer base. Founded in 2012, the chain has an organized management approach to dental care and takes up a particular market and works to extensively cover the region before going to the next market.
LGT Venture Philanthropy (LGT VP) is a global impact investor and the private banking arm of the Princely House of Liechtenstein. MyDentist is LGT VP's 13th healthcare investment globally.