Dental Tech Startup Toothsi Bags $9 Mn In Debt Funding

Dental tech startup Toothsi has raised $9 Mn (INR 66.6 Cr) in a debt funding round led by Stride Ventures.

In August last year, it had raised $20 Mn in a Series B funding round led by Eight Roads Ventures, San Francisco-based Think Investments and the Mankekar Family Office. 

Before that, the startup had also raised $5 Mn as part of its Series A funding from Think Investments, PharmEasy and Dream11, the family office of Nimesh Kampani (JM Financial) Siddharth Shah (API Holdings) and Ramakant Sharma (Livspace)

Founded in 2018 by Arpi Mehta, Pravin Shetty, Manjul Jain and Anirudh Kale, Toothsi makes dental products that include invisible 3D printed teeth and offers at-home dental services with a team of dentists and tech experts on board.

According to the startup, it has conducted more than 65,000 ‘smile makeovers’ so far and has recorded a 5x year-on-year growth over the previous year in FY2021. 

“We’ve carved out a niche for ourselves in the Indian market in just three years, and our business has expanded five-fold. 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,” said Arpi Mehta, cofounder and CEO of Toothsi.

The global orthodontics market was valued at $4.06 Bn in 2018 and is projected to reach $9.72 Bn by 2026, growing at a CAGR of 11.6%. The rising prevalence and awareness about malocclusions (misaligned teeth or a ‘poor bite’) is expected to drive this market as more people need orthodontic care.

In the Asia Pacific region, the market is expected to be worth $4.2 Bn by 2025, growing at a CAGR of 36.4% from 2019. 

“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,” said Ishpreet Singh Gandhi, founder and managing partner of Stride Ventures.

Earlier this month, D2C dental care startup Snazzy had raised $2.2 Mn in a seed funding round from YCombinator, Form Capital, Goodwater Capitan and ANIM Fund. Kunal Shah (founder, CRED), Bobby Goodlatte (Stripe and Coinbase angel investor), Eric Idiahi (partner, Verod Capital), and others also participated in the round.