How Perfora Scaled To INR 70 Cr Revenue In 4 Years By Disrupting Oral Care

A quiet revolution is taking place in India, where oral care has often been an afterthought. Earlier, purchases were limited to toothpaste and toothbrush at the local chemist or the neighbourhood kirana store. And the market was ruled by a handful of FMCG majors like Dabur, Colgate Palmolive, HUL, GlaxoSmithKline and Procter & Gamble, although generic products made foray to a certain extent.

However, there was no real innovation, and the dental aisles in big stores languished in the absence of fresh and dazzling, Insta-worthy brands. Dental influencers did not exist then. Smart toothbrushes did not interact via phone apps. TikTok videos did not flash perfect smiles powered by 3D-printed dental crowns or brandished on-the-go teeth-whitening pens. In short, no excitement permeated the formerly ho-hum world of oral care.

Lately, advanced technology and product innovation have ushered in that excitement, further fuelled by a stylish rebranding of the sector (from drab dental to luxurious oral care, as mentioned by the Business of Fashion) and a major shift in consumer mindset.

The spotlight has moved beyond the routine oral health regime and orthodontics (teeth and jaw alignment) to digital and cosmetic dentistry, making gum health and ‘tooth jobs’ attractive to young, fashionable and woke consumers. Given this change in consumer perception, dozens of direct-to-consumer (D2C) oral care brands have come up in India to cater to aspirational buyers and a fast-growing market witnessing novel trends.

Inside Perfora’s Play To Disrupt Functional Oral Care Space

Before setting up Perfora, a consumer-first brand that aims to elevate end-to-end oral care, founders Jatan Bawa and Tushar Khurana researched potential ventures in 2020. But creating a buzz brand in the oral health and hygiene space was not initially on their radar.

The duo had spent years working for consumer brands and were deeply ingrained in the ecosystem. Khurana, a Shri Ram College of Commerce graduate, worked for hospitality behemoth OYO, FMCG firm Akiva Superfoods and fitness brand Cult.fit. Bawa, too, had been with Akiva, the Indian tea brand Vahdam and CoHo that specialises in co-living solutions. He was part of the founding team at CoHo and led its product strategy. But it was only in 2020 that the itch to build their own business grew stronger.

After sifting through many options, Khurana eventually spotted a big gap in the market — one that had remained neglected for long. “While categories like skincare and food & beverage were evolving, oral care remained stagnant,” he told Inc42.

“Consumers today are more conscious of what goes into their products. Yet many toothpastes still contain ingredients like titanium dioxide, which is banned in the EU [for its potential toxicity], and SLS [sodium lauryl sulfate creates foam and removes food particles but can cause contact irritation], which has been phased out in skincare.”

There was another reason to plunge into functional oral care, although none of the founders had a dental care background. Khurana had issues with teeth alignment and struggled with bleeding gums. He had tried multiple products and visited dentists but failed to find a permanent cure.

As oral health is essentially linked to overall well-being and failing to take care of it can trigger heart conditions, diabetes or even dementia, the mandate was clear. The entrepreneurs saw an opportunity to redefine the category with a new product line made with chemical-free ingredients that would be more effective, safe, affordable and fun.

After seven to eight months of digging into consumer behaviour, bouncing off ideas, studying category gaps and speaking with dentists and other industry experts, the startup was launched in August 2021.

The market entry during the pandemic was fortuitous. At a time when consumers embraced preventive healthcare and holistic wellness, Perfora seized the moment and positioned itself at the crossroads of innovation and convenience. It currently offers 35 SKUs under six major categories but focusses on tooth whiteners.

The brand has sold more than 4 Mn products, which are science-backed, aesthetically packaged and free from all harmful chemicals. More importantly, many of these products are plant-based — all-natural, healthier-for-you products users tend to prefer. 

The brand sells through its website, on quick commerce platforms and Ecommerce marketplaces and via 1,200 partner retail stores in Delhi and Mumbai. On average, Perfora serves 1.2-1.3 Lakh monthly users, with more than 25K transacting on its website. Another 50K purchase via ecommerce platforms, while 35-40K opt for quick-commerce. Repeat customers account for 30-35% of its monthly user base. 

Its remarkable growth trajectory further highlights the rising consumer appetite for reliable and effective oral care products. It reported a 985.7% year-over-year rise in revenue for FY23, growing from INR 1.4 Cr to INR 15.2 Cr. The momentum continued into FY24, with an 184.9% YoY surge to INR 43.3 Cr.

Khurana says the brand will likely close FY25 with INR 70 Cr, marking 61.7% YoY revenue growth. Although the current fiscal year figures are not audited, early indicators suggest that the business is moving towards sustainable growth.  

The founders attribute this success to a strategic emphasis on content to enhance people’s awareness, omnichannel (online+offline) distribution for greater accessibility and product innovation to meet consumer requirements.

“We doubled down on our core strategies, invested in research and focussed on doing fewer things, but doing them exceptionally well,” explained Khurana. Additionally, FY25 has seen the brand streamline operations, become more data-driven, push category-specific ROIs and track advertising performances. 

Overall, as per its claims, Perfora is on track to clock 50X revenue growth between FY22 and FY25. Conversely, its losses have deepened, a common trend among growth-stage startups, with manufacturing and the cost of goods accounting for most of its expenses.

Despite these challenges, Perfora’s founders remain undeterred, outlining ambitious growth targets and securing growth capital. The Shark Tank India participant has attracted $8.4 Mn (INR 72.6 crore) in funding. The D2C brand counts RPSG Capital Ventures, Sauce VC, Lotus Herbals Family Office and Sara International Family Office, as well as a clutch of angels, among its investors.

How Perfora Found Its Whitening Sweet Spot

Perfora began with a simple mission: To put the customer first and solve their problems by developing a safe and effective oral care brand tailored for modern consumers. The goal was to tap into the whitespace in the oral care segment that had seen little innovation.

While building the brand, the founders’ biggest hurdle was their lack of exposure to oral care. Neither had a background in dentistry, and it took them time to understand issues like mouth ulcer, toothaches or bleeding gums and their broader health implications. “Grasping the nuances of people’s needs — how they perceive these problems, what feels like an emergency, and what doesn’t — is crucial, ” said Bawa.

Their learnings came from two key sources: Regular conversations with customers to assess whether their products addressed real concerns and ongoing engagement with dentists and industry experts to stay informed on emerging issues and treatments.

The problem of product specialisation emerged next.

“Earlier, we wanted to create a comprehensive range — products for cavities, whitening, freshness — all offered at a single price point,” said Bawa. “We were thinking like market leaders, convinced we could play across multiple categories. But soon, we realised that trying to be everything to everyone does not work.”

Hence, the brand shifted its focus to tooth whitening, an extremely popular dental procedure that can be done by professionals or with the help of over-the-counter products. The decision has stemmed from the realisation that brand-building is costly and requires sustained, focussed effort.

“Marketing demands significant investment, and for it to gain traction, you need compounding growth to make it happen. A brand that stands for one thing, even for a smaller audience, is often stronger than one that tries to stand for too many things,” explained Bawa.

Although Perfora will be operating across categories, the D2C brand is refining its strategy and will emphasise cultivating a clear, distinct identity around whitening products to deliver quick results.

Creating An All-New Oral Care Line

Think of a peroxide-free tooth whitener, an alcohol-free, oral microbiome-friendly mouthwash, a smart water flosser, or toothpaste with the refreshing flavour of lemon mint or soothing lavender rose — products which are thoughtfully crafted for health-conscious consumers not fond of stereotypes.

That was the transformation the founders sought, away from the mass brand-driven market and exorbitantly priced luxury offerings. The brand’s key strength lies in addressing consumer concerns through conscientious oral care, prioritising safety and efficacy.

Perfora cuts through an oversaturated market with a line of vegan and plant-based products that are non-GMO, toxin-free, and MADE SAFE-certified. Most of its formulations contain natural ingredients such as xylitol (a natural sugar alcohol found in plants), spearmint and lemon oils, Vitamin C, aloe vera and menthol crystals and other potent natural extracts for safety and efficacy while doing away with artificial sweeteners and harmful additives. 

Its clean formulations are free from SLS, parabens, synthetic dyes or broad-spectrum antimicrobial agents like triclosan, which may cause skin and gum irritation and long-term health concerns like antibiotic resistance. Incidentally, many of these ingredients are already banned or restricted globally.

The brand’s innovation is driven by a dedicated R&D team of dentists and formulators who create all formulations in-house and further collaborate with external partners for new product development. 

Perfora products are contract-manufactured in FDA-approved and ISO-certified facilities and deployed to partner warehouses — mini rented spaces in Mumbai, Gurugram and Bengaluru — for efficient distribution. Everything undergoes rigorous quality checks during production and warehousing, while the startup has developed ethical sourcing networks for ingredients. 

“One of the biggest hurdles was the lack of established playbooks in India for building clean-label, functional oral care products,” said Bawa. “We had to reimagine the supply chain from the ground up, driven by first-principles thinking and convince our vendors to focus on quality. At times, we had to educate all stakeholders about clean-label certifications and international compliance standards, which wasn’t easy.” 

However, the oral care brand is still struggling to produce toothcare electronics (electric toothbrushes and water flossers) in-house. These are currently imported from China, but Perfora has developed the first batch of prototypes and partnered with an Indian manufacturer to release the homegrown products soon. “If we can achieve the same level of product quality and compliance locally, it will be a major milestone for us,” said Khurana.

Electric toothbrushes have long been a staple in Western households but are slowly gaining traction in India. That, however, is changing, and Perfora is at the centre of this shift.

How Perfora Turned Consumer Insight Into Its Growth Engine

For a young player like Perfora, breaking into a $1.96 Bn Indian oral care market dominated by legacy players is no small feat. After all, these industry giants have spent decades cultivating deep consumer trust, expanding distribution networks and wielding enormous advertising budgets.

New entrants face two steep hurdles against this backdrop: The high cost of customer acquisition online and the time-intensive task of building a robust offline presence. Yet, Perfora has beat the odds by combining an instinctive savvy approach with strategy. A keen understanding of what young consumers crave is at the core of its success.

From the outset, the founders realised that its target audience would be open to new brands and never-before experiments if they felt a personal connection to the brand’s story and trusted the people behind it. This insight helped them focus on product innovation, design, storytelling and brand-building.

One of their earliest wins was upending the traditional product aesthetics. Perfora’s vibrant packaging, playful colour schemes and unconventional flavours made their toothpaste stand out on crowded shelves.

Another growth driver is product-related content to address oral care issues. Whether yellow teeth, bad breath, or oral sensitivity, Perfora’s messaging zeroes in on a relatable issue and positions its products as solutions.

Continuous product iteration based on customer feedback also fuelled its growth. Bawa and Khurana have created a dynamic feedback loop to stay tuned to customer requirements and constantly refine their products based on audience insights. For instance, Perfora’s signature product, Purple Magic Whitening Serum, was launched in September 2023 after listening to customer demand for an on-the-go whitening product with instant results. It quickly became a bestseller and a major revenue contributor.

But its boldest move was a clean breakaway from dentist-endorsed impersonal advertising. Perfora engages with its customers in a relatable, authentic manner that resonates well. This shift has strengthened the brand’s emotional connection with its target audience, setting it apart from legacy players.

Using Digital Distribution To Build Trust And Traction

The brand’s rapid rise can be further attributed to its digital-first strategy. Unlike the legacy players relying on pharmacy shelves and supermarket aisles, Perfora has built a strong online narrative, eliminating intermediaries for better pricing and engaging with customers for new product concepts and a more personalised shopping experience.

As oral care is now considered a core element of one’s well-being, Perfora tapped into this awareness and positioned its products not as hygiene essentials but as critical self-care tools. Its strategy worked, and customers responded positively.  

The pivotal moment came in February 2023, when the brand appeared on Shark Tank India. “That moment truly changed the orbit we were in. It brought massive visibility, drove a surge in traffic and introduced Perfora to a whole new customer base [read national audience]. People discovered us, tried our products, and the feedback was incredibly positive,” said Khurana.

The startup secured INR 80 Lakh at a valuation of INR 32 Cr, a deal that boosted its financial standing and amplified its credibility.

In a market where brand trust is crucial, Shark Tank gave Perfora the validation it needed to scale, driving an 8X spike in traffic and a 3.5X jump in revenue in the following months. 

Khurana added that the strong recall was also possible as the brand had built a solid presence across key channels before the episode was aired. “We entered quick-commerce platforms Blinkit and Swiggy Instamart a couple of months before Shark Tank. While q-commerce initially contributed 5–6% of our revenue, it now accounts for 20–25%,” he said.

The show propelled Perfora into the mainstream, but the startup quickly capitalised on the momentum. Unlike many businesses that struggle post-funding, the brand had a clear roadmap. It doubled down on digital marketing and expanded its product line, introducing new variants and improving existing ones based on user feedback. This agility has been key to Perfora’s sustained growth. 

Can Whitening And Offline Push Help Perfora Cross INR 100 Cr?

Perfora is yet to hit the profit button, but the founders outlined bold plans for FY26, targeting INR 100 Cr in revenue. Moving forward, it will continue to invest in marketing, brand building and content creation and push its omnichannel strategy for comprehensive growth.

As expansion into offline retail will be crucial for this strategy, Perfora wants to scale from 1,200 to 2,500 stores. It will focus on key hubs like Delhi, Mumbai, Jaipur, Lucknow, Chandigarh and Punjab, with possible expansion into Pune, Bengaluru and Hyderabad. 

It will expand its kids’ range, which has already seen a soft launch, and wants to serve 1 Cr users by 2030, which seems well within its reach, given its current trajectory. 

More importantly, the brand plans to deepen its tooth-whitening portfolio with a host of variants, including serums, strips and electronic devices. “The idea is simple. Six to 12 months from now, if you ask 10 people about Perfora, we want all of them to associate us with tooth whitening. We are looking at 30% of that market,” said Bawa.

Sceptics might not appreciate Perfora’s niche focus in a market where people are not deeply invested in cosmetic dentistry. A recent Mintel study revealed that 59% of Indian consumers brush their teeth just once a day, underscoring the disparity in oral care priorities compared to the West.

However, Perfora seems to target a niche demographic — young, ingrained in global culture and conscious consumers eager to adopt smarter, safer and more stylish health and wellness products. Given this context, brands like Perfora are well-positioned to drive innovation and disrupt the personal care industry.

A look at the projected growth in this sector will not be out of context, either. The tooth-whitening market in India is estimated to reach $220.6 Mn by 2030 from $123.2 Mn in 2023, at a CAGR of 8.7%. Meanwhile, the global oral care market is projected to grow from $34.8 Bn in 2025 to $46.5 Bn by 2032. As Perfora continues to cater to the broader segment of functional oral care, its blueprint for growth is firmly in place. 

But that does not rule out tough competition from deep-pocketed industry giants like Colgate-Palmolive, Dabur and Patanjali or new-age D2C players like Protouch, Fang and Purexa also eyeing a slice of the oral wellness pie. Can Perfora take them in its stride as it tries to redefine oral care in India?

[Edited By Sanghamitra Mandal]