Dental tech startup Toothsi has raised $40 million in its Series C round from existing investors Eight Roads Ventures, South Korea-based Paramark, IIFL, and the family office of Medlife co-founders Prashant Singh and Tushar Kumar.
This is the second funding round for the Mumbai-based company in the past eight months. It had raised $20 million in Series B round from Eight Roads, Think Investments and the Mankekar Family Office among others. These investors along with Aditya Puri and Karan Singh also participated in the Series C round.
Toothsi sells clear teeth aligners — like the ones marketed by Invisalign — and has launched a skincare brand called Skinnsi which provides laser removal and derma facials. It claims to have designed over 65,000 retainers with a team of orthodontists and dentists, and tech experts.
Toothsi had raised Rs 100 crore from India Infoline (IIFL) but it’s not clear whether the tranche was part of this round or an extended Series B round. Entrackr had exclusively reported the IIFL investment in Toothsi.
In the fiscal year ending March 2021, Toothsi revenue from operations soared 3.5X to Rs 14.6 crore from Rs 4.1 crore in FY20. The company’s losses increased 3.8X to Rs 28.94 crore in FY21 as compared to Rs 7.54 crore in FY20.