DT News - India - Dentalkart secures INR 85 crore investment from Malabar and Whiteoak to drive expansion

Dr. Rajeev Chitguppi

Sat. 14 December 2024

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Malabar Investment commits INR 65 crore, with Whiteoak injecting INR 20 crore, enabling Dentalkart to scale its operations, broaden its market reach, and establish new subsidiaries.

Dentalkart, the Delhi-based online marketplace for dental supplies, has secured INR 85 crore in its latest funding round, led by foreign institutional investors Malabar Investment and Whiteoak. The substantial capital infusion marks a pivotal step in Dentalkart’s strategy to reinforce its market leadership within India’s burgeoning dental sector.

Malabar Investment contributed INR 65 crore, while Whiteoak invested INR 20 crore. The funds will underpin Dentalkart’s efforts to expand its operational footprint, deepen its market presence, and add new subsidiaries to support sustained growth.

Vikas Agarwal, Chief Executive Officer of Dentalkart, said: ‘We are delighted with this recent fundraising and are grateful for the confidence that Malabar and Whiteoak have shown in our vision. Their strategic support will enable us to accelerate our development plans and ensure that we remain at the forefront of the dental marketplace in India.’

He continued: ‘This investment comes at a critical juncture, as we work to widen our presence, extend our reach, and scale our network of subsidiaries.’

This funding round also includes a preferential allotment of shares, a move often associated with pre-IPO financing, reflecting Dentalkart’s long-term objective of delivering robust value to investors and stakeholders while fortifying its market position.

Commenting on the investment, Sumeet Nagar, Founder and Managing Partner at Malabar Investments, said: ‘We are drawn to companies that truly comprehend their customers’ challenges and address them effectively. Having encountered these issues first-hand, Vikas and his team are ideally placed to provide timely access to quality, affordable products for dental practitioners across the country.’

Founded in 2016 by Dr Vikas Agarwal and Sandeep Aggarwal, Dentalkart offers over 22,000 products sourced from more than 500 manufacturers, ensuring prompt deliveries even to remote locations. With strong investor backing now secured and clear expansion plans in motion, Dentalkart is poised to redefine India’s dental landscape and contribute to global improvements in oral healthcare.