Tech-enabled Dental Care Platform Toothsi Raises $20M In Series B Funding
Tech-enabled dental care platform Toothsi has raised $20 million in a Series B funding round led by Eight Roads Ventures (a venture capital fund backed by Fidelity), Think Investments and the Mankekar Family Office.
Vishal Agrawal (Vice President at Blackrock Asia), Ramakant Sharma (Co-founder, Livspace), Siddharth Shah and Dharmil Sheth (Co-founders at PharmEasy), and Karan Singh (India Managing Director at Bain & Company) also participated in the funding round.
As per the startup, it will use the capital to scale to new cities across the country. Additionally, Toothsi will also invest in technology to bolster its core platform, strengthen its team, and build the brand.
Toothsi | At-home Smile Makeover Service
Started by orthodontists Dr Arpi Mehta, Dr Pravin Shetty, Dr Anirudh Kale, and Dr Manjul Jain in November 2018, Toothsi is a D2C aligner company offering at-home, teeth-straightening services using invisible, 3D-printed clear aligner technology.
Toothsi claims to be witnessing impressive traction, with revenue growing by 200% over the last six months. The tech-enabled dental care platform has served over 10,000 customers in eight Indian cities, with plans to serve more than one lakh customers this year.
Speaking on the development, Dr Arpi Mehta, Co-founder and CEO at Toothsi, said,
“Toothsi leverages its tech-enabled platform and panel of expert clinicians to provide at-home, clinically-oriented cosmetology services. Combining a world-class orthodontic tradition with the most innovative technology backbone and a vertically integrated business model, we envision Toothsi becoming the global go-to destination for a smile transformation. We are grateful to our incoming investors and partners for believing in our vision. We look forward to their continued support and guidance.”
Clear aligners have a global market size of $5 billion, and the trend is rapidly picking pace in India and major markets around the world. Driven by strong adoption in the US and Europe, clear aligners have emerged as the preferred technology over traditional braces for smile correction, added the startup.
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