Lighthouse Funds, a mid-market focussed private equity fund and Thuasne Participations, France, together have invested Rs143cr into Tynor Orthotics Private Limited (“Tynor” or the “Company”), India's largest orthotic soft goods company. The investment will be used to accelerate Tynor’s growth plans.
Tynor is a leading brand in India’s rapidly growing orthotic support industry and sells products such as body braces, supports, fracture and walking aids. The Company has a wide range of offerings consisting of over 140 products. Tynor has a national distribution network in India and also exports to over 40 countries. The Company is aiming to achieve sales of over INR 500 crore in the next three to four years.
Thuasne had originally invested in Tynor in 2010, picking up a minority stake. It has again participated in the current round, led by Lighthouse Funds.
Lighthouse is a leading mid-market private equity firm focused on growth investments in India's consumer sector. The firm’s current and past investments include Bikaji Foods, FabIndia Overseas, Cera Sanitaryware, Capital Trust, Suraksha Diagnostic, Dhanuka Agritech, Indian Herbs, Kama Ayurveda, Unibic Foods and XSEED Education.
Thuasne is a leading global medical textile and orthotic soft goods player with manufacturing units in 11 countries, including USA and Europe. It has more than 100 patents to its name and employs more than 2,000 people worldwide. Thuasne is headquartered in Paris, France.
Commenting on the current capital raise, Dr. PJ Singh, Founder of Tynor, said, "The current capital raise is in line with our vision 3.0, to catapult the Company to the next level of growth. Thuasne has been a great supporter over the years and we are glad to see their increased confidence in us. We have known Lighthouse for five years, and are extremely excited to convert this relationship into a professional association.”