Consumer tech clear aligner brand toothsi has raised $40 million in Series C funding from leading global investment firm Eight Roads Ventures, South Korea-based Paramark, IIFL, and the family office of Medlife co-founders: Prashant Singh and Tushar Kumar.
Existing investors Think Investments and the Mankekar family office also participated in this round along with select independent angel investors including Aditya Puri, former managing director of HDFC Bank and Karan Singh, managing partner of Bain & Company's India offices.
Founded in 2018 by renowned orthodontists, Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale, toothsi has already designed smile makeovers for 140,000 customers in India, empowering them with access to at-home, new-age teeth straightening with invisible, 3D-printed clear aligner technology.
The company’s customer base, and with it the company’s revenue, has registered robust growth so far. toothsi aims to further scale its technology platform and operations to ensure a seamless customer experience across the treatment journey. Besides that, the company plans to invest in robotic automation for aligner manufacturing.
“The brand intends to be the one-stop platform for doctor-directed solutions for cosmetic dentistry and dermatology. The support of our investors has empowered us to bring to life our vision of building a first-of-its-kind clinical beauty technology brand. We, at toothsi, intend to use this capital to build a great team for further geographic penetration and category expansion,” said Arpi Mehta Shah, co-founder and CEO, toothsi.
“We are pleased to deepen our partnership with toothsi. Since our first, smaller investment last year, the company has continued its successful transformation into a leading clinical cosmetology brand. We welcome our new co-investors and wish the toothsi team the best in what is poised to be an exciting year ahead,” added Prem Pavoor, senior partner, head of India & Healthcare Investments, Eight Roads Ventures.
toothsi has also scaled up its sister brand ‘skinnsi’ which provides at-home laser-assisted cosmetology services.
toothsi’s pan India network currently encompasses more than 2,000 partner dental centres. The company intends to further expand the toothsi brand’s availability to tier II cities in the near future to ensure more customers have access to toothsi’s orthodontic products and services.
In January 2021, the dental tech startup raised $5 million in Series A funding. Later in the same year, the company raised another $20 million in Series B funding.