Indian dental care brand Toothsi raised USD 40 million in Series C funding on May 1, 2022. Eight Roads Ventures, South Korea-based Paramark, and IIFL led the funding for Toothsi. The family office of Medlife co-founders Prashant Singh and Tushar Kumar also invested in the round.
Meanwhile, existing investors Think Investments and the Mankekar family participated in the Series C funding. The round saw participation from independent angel investors such as Aditya Puri, former managing director of HDFC Bank and Karan Singh, managing partner of Bain & Company’s India offices.
Purpose of Funding for Toothsi
The company plans to further scale its technology platform and operations with the recent investment. It wants to ensure a seamless customer experience across the treatment journey. Besides that, Toothsi will invest in robotic automation for aligner manufacturing.
Currently, it has a pan India network of more than 2,000 partner dental centres. The dental care firm intends to further expand the brand’s availability to tier-II cities in the near future.
Earlier, in August 2021, the firm raised USD 20 million in a Series B funding round led by Eight Roads Ventures, Think Investments and the Mankekar Family Office. In January last year, Toothsi raised USD 5 million in Series A funding before that.
Toothsi also scaled up its sister brand, ‘skinnsi,’ which provides at-home laser-assisted cosmetology services. Over the past few months, the company launched a variety of dental and skin self-care products, including a tooth whitening and oral hygiene product line.
What the founder has to say
Dr Arpi Mehta Shah, co-founder and CEO of 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.”
What the investor has to say
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.”
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