Combining skincare with science, Innovist’s primary focus has always been formulating scientific, data-driven, effective, and customer-centric personal care products. Currently, it leads three renowned Indian skin care brands: Bare Anatomy, Sun Scoop, and Chemist At Play. The parent company recently announced that it has raised $7 million in a Series A funding round led by Amazon Smbhav Venture Fund.
The round also saw participation from the company’s existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar; and former KKR India head Sanjay Nayar, Accel India, and Sauce.vc. The fresh funds will be used to boost product innovation, market expansion, and team building.
“The capital infusion will be allocated to achieve several key objectives, such as product innovation, market expansion, and team building,” relayed Rohit Chawla, CEO of Innovist.
Last year, the firm raised $3.5 million in its pre-series A funding round, led by Accel Partners and 72 Ventures. It also secured $2.5 million in 2021, bringing its total funding to $13 million. Launched in 2021, the Amazon Smbhav Venture Fund is Amazon’s $250 million fund to support early-stage Indian startups. It has invested in five startups till now, namely, M1xchange, The Good Glamm Group, Cashify, Fitterfly, and Smallcase.
Commenting on the investment, a spokesperson for Amazon Smbhav Venture Fund said in a statement, “Rohit and the team at Innovist are doing some great work in bringing an exciting range of beauty and personal care products to customers across India. We are excited to work with them for their next phase of growth.”
Established in 2018, Innovist is led by Rohit Chawla, Sifat Khurana, and Vimal Bhola. Earlier known as Onesto Labs, it launched its first brand, Bare Anatomy, in 2019. It is one of the only startups in India that started out by first building a research lab and a manufacturing facility.
It manages all its brands under the same three principles: clean, transparent, and science-focused personal care products. Innovist currently owns three brands: Bare Anatomy, Sun Scoop, and Chemist At Play.
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