Dental tech startup Toothsi raises Rs 100 Cr led by IIFL

Dental tech startup Toothsi has raised Rs 100 crore or a little over $13 million in a fresh tranche led by IIFL. This is the second financing for the Mumbai-based company which recently picked up $9 million debt from Stride Ventures.

Toothsi has passed a special resolution to issue 460053 CCPS VI at an issue price of Rs 2173.66  per share at a consideration of Rs 100 crore, according to the company’s regulatory filings.

IIFL Tech Large Value Fund and Mahendra Chunilal Shah have invested Rs 75 crore and Rs 25 crore respectively in this transaction. This could be a part of a larger round for the Arpi Shah-led company. .

As per Fintrackr’s estimates, Toothsi has raised the funds at a post-money valuation of $252 million. The company has so far raised around $47 million in equity plus debt including  $20 million in Series B round in August last year.

Founded by Shah, Pravin Shetty, Manjul Jain and Anirudh Kale, Toothsi sells clear teeth aligners to customers at home. Besides orthodontic products, Toothsi also offers oral-care products such as sonic toothbrushes, teeth whitening products and aligner accessories and has launched a skincare brand called Skinnsi which provides laser removal and derma-facials.

The company claims to have designed over 65,000 smile makeover plans with a team of veteran orthodontists and dentists, tech experts, and business-minded professionals.

For the fiscal year 2021, Toothsi’s operating revenue saw a jump of 2.88X to Rs 14.6 crore from Rs 5.06 crore in the preceding fiscal year.  The company’s expenses during the period soared 3.46X to Rs 43.79 crore and as a result, it incurred a loss of Rs 28.94 crore in FY21 from Rs 7.54 crore in FY20.

Toothsi seems to be an interesting startup with spurring new development of wellness and fitness services. I’m certain this startup would keep on flourishing in its excursion ahead. My best wishes to the entire team of Toothsi. This will give them tremendous achievements in the future.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor. Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.