[Funding alert] Health and wellness startup toothsi raises $20M in Series B round
Health and wellness platformon Friday said it raised $20 million in a Series B round led by Eight Roads Ventures (a global investment firm backed by Fidelity), San Francisco-based Think Investments, and the Mankekar Family Office.
The round has also seen participation from Vishal Agrawal (Vice President, Blackrock Asia), Siddharth Shah and Dharmil Sheth (Co-founders, PharmEasy), Ramakant Sharma (Co-founder, Livspace), and Karan Singh (India Managing Director, Bain & Company).
Founded in November 2018 by orthodontists Dr Arpi Mehta, Dr Pravin Shetty, Dr Manjul Jain, and Dr Anirudh Kale, toothsi is a D2C aligner company that has served over 10,000 customers in eight Indian cities and plans to serve more than one lakh customers this year.
The company will use the capital to scale to new cities across the country. It will also invest in technology to bolster its core platform, strengthen its team, and build the brand.
Dr Arpi Mehta, Co-founder and CEO, 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.”
toothsi provides customers with access to at-home, new-age teeth straightening with invisible, 3D-printed clear aligner technology. The startup had previously raised $5 million as part of its Series A funding round in January this year.
Clear aligners have emerged as the preferred technology over traditional braces for smile correction, driven by strong adoption in the US and Europe, and the trend is rapidly picking pace in India, too, toothsi said in a statement.
The startup added that it has seen impressive traction, with revenue growing by 200 percent over the last six months.