Mumbai-based health and wellness startup toothsi today announced it has raised $20 million in a Series B funding round led by Eight Roads Ventures with participation from Think Investments, and the Mankekar Family Office.
The round also saw 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 for Bain & Company).
The startup had previously raised $5 million as part of its Series A funding round led by Think Investments, Siddharth Bhaskar Shah, and Ramakant Sharma.
Founded in 2018 by Dr. Arpi Mehta, Dr. Pravin Shetty, Dr. Manjul Jain, and Dr. Anirudh Kale, toothsi is an online direct-to-consumer (D2C) aligner platform that claims to have served over 10,000 customers in eight Indian cities and plans to serve more than one lakh customers this year.
According to a release by ERV, toothsi will use the raised capital to scale its brand presence in new cities across the country. It will also invest in technology to strengthen its core platform and team and build the brand.
“toothsi leverages its tech-enabled platform and panel of expert clinicians to provide at-home, clinically-oriented cosmetology services, Dr. Arpi Mehta, Co-founder & CEO, toothsi said.
“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.” she adds.
The startup has seen impressive traction in terms of revenues, growing by 200% over the last six months, the startup said.
toothsi holds itself to the highest global standards, given the stringent focus on a quality orientation set by its orthodontist co-founders, some of whom are pioneers in Indian orthodontics, it added.