Global Dental Services, a firm that operates oral care startup Clove Dental, has raised an equity investment of $50 million from the Qatar Investment Authority (QIA), which is the sovereign wealth fund of the State of Qatar.

As per the firm, the funds will enable the firm to grow the dental clinical network, expand smile-enhancing solutions, and develop a therapeutic oral care product range.

This development has come a year after the firm had raised $66 million in funding led by Investcorp, taking the total funding to $116 million.

Global Dental Services | Clove Dental

Founded by Amarinder Singh in 2011, Global Dental Services provides efficient, effective & equitable dental care, operating 422 company-owned and managed dental clinics under the Clove Dental brand. These dental clinics are spread across 24 cities in 12 states, providing treatments including orthodontics, dental implants, and oral surgery, among others.

Speaking about the development, Amarinder Singh, Founder and CEO of Global Dental, highlighted that the investment from QIA will enable the firm to pursue its ambitious growth plans in both existing geographies and new tier 1 and 2 cities across the nation. This growth plan ensures that more Indians get access to reliable, high-quality, and affordable dental care.

Louis Shakinovsky, chairman of Global Dental, highlighted the firm’s selective approach in bringing partners and shareholders, underscoring that QIA aligns with their vision.

Shakinovsky said, 

“QIA is an outstanding example of a shareholder who is aligned with the long-term vision of the group. At Global Dental, we have made significant investments in people, technology, equipment, and infrastructure.” 

Statement from the Investor

Commenting on the development, Sheikh Faisal Thani Al-Thani, Chief Investment Officer, Africa and APAC at QIA, mentioned QIA’s commitment to supporting innovative companies with high-growth potential, highlighting that the investment firm sees great potential in India’s fast-growing healthcare and retail markets. 

Faisal added,

“We have been impressed by Clove’s rapid expansion across India, commitment to quality, and innovative approach to dental care and look forward to welcoming them to our diverse global healthcare portfolio.”

As per the firm, Clove clinics are equipped with state-of-the-art dental equipment that is managed by a team of over 1,010 highly qualified dentists, of which 78 percent of Clove dentists are women. The firm claims that 61 percent of dentists hold advanced master’s degrees in Dentistry.

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