AMPA Orthodontics Pvt Ltd, which operates tech-infused dental care brand toothsi said Monday it has raised $40 million in a Series C funding round led by Eight Roads Ventures, South Korean company Paramark, IIFL, and the family office of Medlife co-founders.
Existing investors Think Investments and the Mankekar family office participated in this funding round, said toothsi in a statement.
Prominent individuals including Aditya Puri, former managing director of HDFC Bank, and Karan Singh, managing partner of Bain & Company's India offices, also pooled in capital as part of this investment round, it added.
Arpi Mehta Shah, co-founder and CEO, toothsi, said in the statement that the startup will use the fresh capital to boost its geographical and category expansion.
The startup, founded in 2018 by orthodontists, Shah, Pravin Shetty, Manjul Jain, and Anirudh Kale, provides customers with access to at-home teeth straightening with invisible, 3D-printed clear aligner technology. It also aims to invest in robotic automation for aligner manufacturing and strengthen its technology platform and operations.
The company has a network of over 2,000 partner dental centres and it aims to expand its brand in tier II cities. toothsi has already designed smile makeovers for 140,000 customers, it said. It has also launched dental and skin self-care products including an innovative teeth-whitening and oral hygiene product line over the past few months.
toothsi's Series C funding round comes eight months after it secured Series B funding of $20 million led by Eight Roads Ventures, Think Investments and the Mankekar family office in August last year.
Prior to this funding, toothsi raised $5 million as part of its Series A round in January 2020 from Think Investments and other investors.
Earlier this year, toothsi also raised venture debt funding of $9 million (Rs 66.6 crore) led by Stride Ventures.
Other venture capital backed companies in the broader dental space include Sabka Dentist, Axiss Dental and Special Smiles.
