Dental-care startup Toothsi has raised $20 million in a Series B funding round led by Eight Roads Ventures, Think Investments and the Mankekar Family Office. Blackrock Asia’s vice president Vishal Agrawal, Pharmeasy co-founders Siddharth Shah and Dharmil Sheth, Livspace cofounder Ramakant Sharma and Karan Singh of Bain & Co. India also participated in the round.
The startup will use the fresh capital to bolster its technology and for geographical expansion.
Founded in 2018 by orthodontists Dr. Manjul Jain, Dr. Pravin Shetty, Dr. Arpi Mehta and Dr. Anirudh Kale, Toothsi at present has more than 10,000 customers in eight cities. The dental tech startup provides customers at-home, teeth-straightening services using invisible, 3D-printed clear aligner technology.
Clear aligners have emerged as the preferred technology over traditional braces for smile correction, driven by strong adoption in the US and Europe. This trend is rapidly picking up pace in India too, the company said in a release. “The company has seen impressive traction, with revenues growing by 200% over the last six months.”
“Our partnership with Toothsi demonstrates our continued excitement around consumer-driven healthcare in a post-pandemic world. We are excited by the opportunity that clear aligners present to transform traditional orthodontic technologies and practices,” said Dr. Prem Pavoor, partner and India head at Eight Roads Ventures.
With a global market size of $5 billion, clear aligners are gaining popularity in major markets around the world, and India is no exception. “We see immense potential for companies in this Industry,” said Shashin Shah, founder and managing partner of Think Investments.
