Jobaaj Stories
The past few years have been tremendously great for Indian Startup Ecosystem. Realizing the potential of technology, innovation, culture, and society people of India are turning into entrepreneurs. With the news world growing vastly and flooding with startup descriptions each day, we often encounter layoff trends, recent funding, technology innovation, and philanthropic works.
Toothsi, a new-age dental tech startup from Mumbai that was established in 2018 became India’s First & largest smile makeover service provider. Founded by Dr. Arpi Mehta, Dr. Manjul Jain, and Dr. Anirudh Kale this startup provides simple and affordable clear aligners made with a groundbreaking technology. In an Interview with Dr. Arpi Mehta(Co-Founder & CEO), stated that the idea struck when she noticed young adults avoiding braces for treatments. This led to a business opportunity that further helped many Indians have a better smile with invisible aligners. The service, which started in Mumbai, is now accessible in many of India's major cities.
Toothsi #smile ka champion IPL Campaign
Last year, Toothsi greatly advertised the brand by endorsing both bold and energetic Anushka Sharma and Virat Kohli by explaining the need for a perfectly aligned smile. The campaign #EasyPeasy Toothsi explained how convenient tooth alignment can be.
The brand also took a big marketing step in IPL this year with #smilekaChampion Toothsi. The brand took cricket personalities to promote its revolution clear aligners. Marketing was c full of humor for the Indian Audience which showcased the factors in Indian Cricket Legends that make them a champion.
Challenges faced by Toothsi: Dr. Arpi Mehta
In a discussion with CEO Insights, Dr. Arpi Mehta stated that Toothsi faced a challenge to persuade clients about a transparent plastic material for a better alternative to metal braces. They even received numerous queries about the new product in the market. It took them quite some time to help people understand their value proposition.
Dr. Mehta even mentioned that it was a concern for them to encourage employees about the mission of introducing transparent aligners in the Indian Teeth straightening Industry. They even faced difficulties while convincing the investors which got sorted later by a solid founding team and a scalable business strategy.
Toothsi struggles to close a funding round
As per sources, This celebrity-endorsed brand has started laying off some of its employees. Through this, Toothsi has joined the list of startups that are laying off employees for possible cost reductions and profitability. As per the article published by Money Control on the same brand, It is stated that since the beginning of 2022, approximately 24,500 staff members have been laid off by over 91 Indian Startups.
The company staff constitutes nearly 800 to 2000 employees. But, In the year 2022, expenses on employees amounted to Rs.72.14 crores. The same year, the recorded loss born by the company was comparatively huge to the profit earned. The company’s expenditure on advertising and promotional causes was also huge.
This layoff has impacted team members of Toothsi, which as said constituted tech.
As per reports, It is struggling to close a funding round. However, In the previous year, the company raised $40 million in funding which was thought to be used beyond the geographies and explore some new categories. The investors included banker Aditya Puri, Eight Roads Ventures, Paramark, and IIFL.In 2021, The company has also raised $ 25 million in two funding rounds.
Today, This Ortho-owned brand also has a sister brand named ‘Skinnsi’ which aims to provide laser-assisted cosmetology services. Both companies are now merged under another new brand named MakeO.
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