Mumbai-based toothsi, an at-home smile makeover brand, has raised $9 million or Rs 67 crore in a debt financing round led by Stride ventures. Prior to this, the startup had raised $20 million as part of its Series B round led by Eight Roads Ventures in August last year.
Founded in 2018 by Dr. Arpi Mehta, Dr. Pravin Shetty, Dr. Manjul Jain, and Dr. Anirudh Kale, toothsi operates an online direct-to-consumer (D2C) aligner platform that offers customers clear aligners, an alternative to conventional braces.
With a team of veteran orthodontists, dentists, tech experts, and business-minded professionals, the startup claims to have designed over 65,000 smile makeover plans and recorded 5x year-on-year growth in FY 2021.
According to toothsi, the raised funds will help the company to invest in modern and consumer-facing technologies, automation, expanding geographic footprint, and focus on brand building.
At present, toothsi offers scan-at-home services in 11 cities, including Ahmedabad, Bengaluru, Chennai, Chandigarh, Delhi/NCR, Hyderabad, Guwahati, Kolkata, Mumbai, Pune, and Surat. The startup also operates a skincare brand Skinnsi which offers laser hair removal services and other skin-related treatments at home. toothsi plans to build an elaborate portfolio of cosmetic dermatology services in the near future, it said.
“We’ve carved out a niche for ourselves in the Indian market in just three years, and our business has expanded five-fold,” Dr. Arpi Mehta said,
“We aim to leverage our health tech doctor-directed platform to provide Indians the opportunity to improve their appearance and feel more confident in social situations. Our partnership with Stride Ventures will enable us to reach new heights and enhance customer experience,” Arpi adds.
Speaking on the investment, Ishpreet Singh Gandhi, Founder & Managing Partner, Stride Ventures, said, “This partnership with toothsi is our latest endeavor towards engaging with more new-age healthcare startups. The stellar growth shown by the company is a testament to their team’s commitment to excellence. Their disruptive solution to orthodontic issues in the form of customizable invisible aligners has been creating waves in this consumer-driven space and has captured 35% market share.”