o3 Capital acted as the exclusive financial advisor to Dentcare Dental Labs for a minority stake sale to ICICI Venture.

This investment will support DentCare’s ability to further scale and serve the untapped Indian and global markets.

This deal marks o3 Capital’s 9th successful closure in the Healthcare & Life Sciences sector over the past 12 months. Notably, it is also the 5th transaction the firm has executed in the medical devices segment, contributing to o3 Capital’s track record of 68 deals closed in the broader healthcare and life sciences space to date. The transaction underscores o3 Capital’s deep domain expertise and its commitment to supporting growth-stage healthcare innovators.

Shiraz Bugwadia, Senior Managing Director, o3 capital states “DentCare, as a market leader by a margin in India, is uniquely positioned to capture the vast unorganized dental prosthesis segment and emerge as a leading global manufacturer. Its unmatched manufacturing capabilities, combined with strong revenue growth over the past three years, makes it a truly distinctive and high-potential asset in this space”

Established in 1988, DentCare Dental Lab is India’s largest manufacturer of custom-made dental prostheses, operating in a largely unorganised market. With over three decades of trusted service, DentCare has built strong brand equity and established a clear leadership position in the Indian dental industry. Headquartered in Muvattupuzha, Kerala, the company operates one of the world’s largest and most technologically advanced dental laboratories. This is supported by a network of 10+ dental labs across India and key international markets. A pioneer in innovation, DentCare was the first in India’s dental lab industry to adopt technologies such as 3D printing and CAD-CAM, and the first to receive both CDSCO and ISO accreditations.

ICICI Venture is one of India’s oldest and most prominent alternative asset managers, established in 1988 with a historical AUM/A of over US$6.3 billion across Private Equity, Venture Capital, Real Estate, Infrastructure and Special Situations and a distinctive track record of sector agnostic growth PE investments especially in the Indian healthcare, life sciences, consumer and BFSI sectors. The investment in DentCare is from IAF5 which is the latest fund in its private equity vertical.

Mr. John Kuriakose, Founder and CMD DentCare Dental Lab commented on the development, “We are delighted to welcome ICICI Venture as a strategic partner in our journey. Their investment is a strong endorsement of our manufacturing excellence and a clear alignment with our vision of delivering world-class dental prostheses globally. The investment reaffirms the strength of our clinical expertise, robust business practices, and solidifies our leadership as India’s largest dental prosthesis manufacturer. With this milestone, we are poised to enter the next phase of growth with renewed energy and commitment.”

Commenting on the investment, Rushank Vora, Senior Director, ICICI Venture said, “Healthcare continues to be a core focus area for ICICI Venture, driven by the significant demand-supply gap and the opportunity for organized players to capture substantial market share. We are excited to partner with DentCare, a company that has demonstrated impressive growth while sustaining good profitability margins. We look forward to collaborating closely with the team to further strengthen DentCare’s position as a leading dental products company from India.”