Total amount raised
₹9.6 Billions
Latest funding date
11/1/2023
Location
Clove Dental has successfully raised significant funding over multiple rounds, with the latest Series E round securing ₹4,170,000,000 from Qatar Investment Authority. The dental chain is known for providing comprehensive oral healthcare services across its numerous clinics.
Keep reading to explore the intricacies of Clove Dental's fundraising journey and the investors backing this expanding dental network.
What Is Clove Dental?
Clove Dental, founded in 2011 by Amar Singh, is a leading dental care provider based in New Delhi, India. The company offers a comprehensive range of oral healthcare services, leveraging advanced equipment and pain-management technology to ensure high standards of hygiene, clinic safety, and customer service.
With over 800 dentists and more than 1,000 employees, Clove Dental operates over 350 clinics across India, managing more than 1 million patients every month. The company is committed to transparency, ethics, and delivering exceptional patient care.
For more detailed information, you can visit their Crunchbase profile or their official website.
How Much Funding Has Clove Dental Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: April 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and expand the clinic network.
- Series D
- Amount Raised: ₹5.5 billion (approximately $66 million)
- Date: November 2022
- Lead Investors: Investcorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion plans, including enhancing clinical services.
- Series E
- Amount Raised: ₹4.2 billion (approximately $50 million)
- Date: November 2023
- Lead Investors: Qatar Investment Authority
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the clinical network and develop new smile-enhancing solutions.
Total Amount Raised: $116 million. Current Valuation: Not publicly disclosed.
Key Investors
- Qatar Investment Authority
- Details: Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar, founded in 2005. It is one of the largest and most active sovereign wealth funds globally.
- Investment Focus Areas: Technology, media, telecoms, retail, green energy.
- Notable Investments: Harrods, Volkswagen, Barclays.
- Investcorp
- Details: Investcorp is a global provider and manager of alternative investment products, serving high-net-worth private and institutional clients. It led a $66 million funding round for Clove Dental in December 2022.
- Investment Focus Areas: Private equity, real estate, credit management, absolute return investments.
- Notable Investments: Tiffany & Co., Gucci, Saks Fifth Avenue.
What's Next for Clove Dental?
Clove Dental is poised for significant growth, with opportunities to expand its clinical network and develop innovative smile-enhancing solutions. The recent $50 million investment from Qatar Investment Authority, combined with previous funding, underscores the potential for substantial market expansion, particularly in tier I and II cities across India.
Future fundraising opportunities seem promising, given the strong financial backing and strategic alignment with major investors. However, Clove Dental will need to navigate challenges such as maintaining high standards of care and managing a rapidly growing team. The company's ability to balance expansion with quality service will be crucial in sustaining its growth trajectory.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Clove Dental and gather other critical business insights.
Sign up for free on Clay and start leveraging these powerful tools today.
