Total amount raised
$87 Million
Latest funding date
5/1/2022
Location
Toothsi has successfully raised funding over five rounds, with the latest being a Series C. The company has garnered the interest of 16 investors, including notable names like Eight Roads Ventures India and Tushar Kumar.
Keep reading to explore the intricacies of Toothsi's fundraising journey and the investors backing this innovative platform.
What Is Toothsi?
Toothsi, a private company based in Mumbai, Maharashtra, India, specializes in clear aligners and oral care products. The company operates in the Dental, Health Care, and Wellness industries and has between 1001-5000 employees.
Founded by Dr. Arpi Mehta, Dr. Pravin Shetty, Dr. Annirudh Kale, and Dr. Manjul Jain, Toothsi offers a range of products designed by experienced orthodontists. Their offerings include clear aligners, teeth whitening solutions, and various oral hygiene products.
How Much Funding Has Toothsi Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: January 2021
- Lead Investors: Think Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the company's services and infrastructure.
- Series B
- Amount Raised: INR 1,480,000,000
- Date: August 2021
- Lead Investors: Eight Roads Ventures, Mankekar Family Office, Think Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion efforts.
- Debt Financing
- Amount Raised: USD 9,000,000
- Date: January 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's operational and technological advancements.
- Series Unknown
- Amount Raised: INR 1,000,000,000
- Date: March 2022
- Lead Investors: Mahendra Chunilal Shah
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market reach and product offerings.
- Series C
- Amount Raised: USD 40,000,000
- Date: May 2022
- Lead Investors: Eight Roads Ventures, Paramark, IIFL, Family Office of Medlife co-founders
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support geographic expansion, category growth, and technological advancements.
Total Amount Raised: USD 54,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global investment firm that focuses on high-growth companies. They have a significant presence in healthcare and technology sectors.
- Investment Focus Areas: Healthcare, technology, consumer sectors
- Notable Investments: Shadowfax, MoEngage, Whatfix
- Think Investments
- Details: Think Investments is a global investment firm that engages in both public and private equity markets. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Byju's, Razorpay, PharmEasy
- IIFL
- Details: IIFL is an Indian financial services company with a broad range of services including wealth management and investment banking.
- Investment Focus Areas: Financial services, real estate, healthcare
- Notable Investments: Nazara Technologies, Bikaji Foods, Livspace
- Family Office of Medlife Cofounders (Prashant Singh and Tushar Kumar)
- Details: This is the private investment office of the co-founders of Medlife, a prominent healthcare company in India.
- Investment Focus Areas: Healthcare, technology
- Notable Investments: Not publicly disclosed
- Paramark
- Details: Paramark is an investment firm based in South Korea, known for its strategic investments in various sectors.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Toothsi?
Toothsi is poised for significant growth, with opportunities in geographic and category expansion. The company plans to penetrate Tier-II cities and diversify its offerings in cosmetic dentistry and dermatology. This expansion is bolstered by a $40 million Series C funding round, indicating strong investor confidence and substantial market potential.
Future fundraising opportunities seem promising as Toothsi continues to innovate and scale. The company may attract further investments to support its technological advancements and operational enhancements. However, challenges such as competition, regulatory hurdles, and maintaining service quality across new markets could pose obstacles. Despite these challenges, Toothsi's strategic plans and robust investor backing position it well for continued success.
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