[Funding alert] Consumer tech clear aligner brand Toothsi raises $40M in Series C round
Clear aligner technology brandhas 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. The round also saw the participation of existing investors Think Investments and the Mankekar family, and independent angel investors such as Aditya Puri, former managing director of HDFC Bank and Karan Singh, managing partner of Bain & Company's India offices.
The company plans to utilise the funds to further scale its technology platform and operations to ensure a seamless customer experience across the treatment journey. Besides that, the company would also invest in robotic automation for aligner manufacturing.
Founded in 2018 by orthodontists Arpi Mehta Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale, Toothsi has facilitated 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.
Commenting on the latest funding round, Dr Arpi Mehta Shah, co-founder and CEO, Toothsi, said, “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.”
Dr Prem Pavoor, Senior Partner, Head of India & Healthcare Investments, Eight Roads Ventures, said, “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.”
Toothsi’s sister brand ‘Skinnsi’ provides at-home laser-assisted cosmetology services. Over the past few months, the company has also introduced a variety of dental and skin self-care products including an innovative teeth whitening and oral hygiene product line.
The company has partnered with 2,000 partner dental centres across the country. It intends to further expand the Toothsi brand’s availability to tier-II cities in the near future.