SG dental startup Zenyum plans merger with India's MakeO Toothsi

Zenyum, a Singapore-based dental company, and MakeO Toothsi, an Indian orthodontic brand, announced plans for a merger expected to complete by the end of February, subject to approvals.

The combined company aims to expand its presence across nine countries in Asia, the Middle East, and beyond.

It will offer orthodontic solutions such as clear aligners and digital dental products.

The merger seeks to leverage technological capabilities and clinical networks to improve service offerings and supply chain efficiency.

Both firms will continue to operate their existing product lines and clinical partnerships.

The goal is to become a leading player in the Asian consumer dental market.

Zenyum, founded in 2018, provides 3D-printed clear aligners and oral care products across several Asian markets. MakeO Toothsi offers FDA-certified aligners and maintains a network of over 60 clinics.

🔗 Source: Zenyum

🧠 Food for thought

Implications, context, and why it matters.

The merger follows a down-round fundraising for MakeO

The combined-company announcement lands soon after MakeO raised new capital at about a $124 million valuation 1.
That price is more than 50% below the January 2024 round, which valued MakeO near $265 million 1.
In FY24 (financial year 2024), operating revenue inched up to Rs 179 crore, while losses came to Rs 150 crore after a 32% reduction 1.
Those results make the tie-up read like a push for steadier footing alongside growth.

A wave of consolidation may be coming for consumer health-tech

Building a hybrid online-offline model (online sales and onboarding, clinic-based care) takes heavy spending.
Each business uses partner clinics or experience centres to attract customers and provide treatment 2, 3.
As one operation, Zenyum and MakeO can share costs and press harder in Asia’s clear-aligner market, which has expanded with rising demand 4, 3.
Other direct-to-consumer health startups may take a similar path as funding gets pricier, teaming up with a regional peer to scale and cut overhead.