Bangalore: MyDentist, Mumbai-based dental clinic, has procured 50 Crore in its funding led by healthcare focused private equity firm Asian HealthCare Fund and existing early stage investor SeedFund Advisors. The new capital will be used to expand MyDentist’s presence from 40 clinics to 120 clinics across Mumbai and Pune.

MyDentist was incorporated by Vikram Vora in 2009. Currently, the company has established 38 clinics in Mumbai and 2 in Pune. It caters its range of services from bleeding gums to full mouth rehabilitation to the middle class sector. MyDentist was incubated by SeedFund in 2010 with an initial investment of $2, 00,000. “Our first stage of growth was dedicated at bringing systems and processes in place and building up the core team”, said Vora, Chief Executive, MyDentist.

Asian HealthCare Fund was founded by Dabur Group chairman Anand Burman and former Dabur Pharma CEO Ajay Kumar Vij in 2010. It started with a mandate of making investments between $5 million and $20 million in healthcare ventures such as diagnostics, clinics, pathology labs, pharmaceutical and medical devices manufacturers.

On the other hand, co-investor, Seedfund Advisors has raised two funds. The first fund has made investments in 12 companies which includes online auto classifieds startup CarWale, online bus ticketing company Redbus and hospitals chain Vaatsalya.

Last year, in the dental service sector; Forti HealthCare Limited through its subsidiary Fortis HealthCare International sold its 64% stake in Dental Corporation Holdings Limited (DC) t healthcare firm Bupa of UK for about $270 Million. According to Thomason Reuters estimate, private equity investments in the Indian healthcare space crossed $520.36 Million last year compared to $137.4 million in 2011.

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