AMPA Orthodontics Pvt Ltd, which runs dental tech firm Toothsi, said it has raised a venture debt of $9 million (Rs 66.6 crore) led by Stride Ventures.
The Mumbai-based startup plans to invest the fresh funds in modern and consumer-facing technologies as well as automation.
Toothsi, which is currently spread across 11 Indian cities, aims for expansion, boost brand value and build a clinical beauty line-up in the country.
Launched in 2018 by orthodontists Arpi Mehta, Pravin Shetty, Manjul Jain and Anirudh Kale, the firm claims to offer its customers with access to at-home teeth straightening with invisible, 3D-printed clear aligner technology. It also said to have logged a five-fold jump in fiscal year 2021.
“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 with the opportunity to improve their appearance and feel more confident in social situations,” said Arpi Mehta, Co-Founder and CEO of Toothsi.
Earlier, the dental tech startup raised $20 million (around Rs 148 crore) as part of its Series B funding led by venture capital firm Eight Roads Ventures, San Francisco-based Think Investments and the Mankekar Family Office.
Prior to the round, it had raised $5 million in Series A round from Think Investments and other investors.
This will be Stride Ventures another investment in the healthcare sector, as it continues to focus in the space at large. The amount will be sanctioned from Stride Ventures India Fund II, the venture debt firm said.
“This partnership with Toothsi is our latest endeavour towards engaging with more new-age healthcare startups,” said Ishpreet Singh Gandhi, Founder and Managing Partner at Stride Ventures.
