Innovist, the visionary parent company behind popular consumer brands such as Bare Anatomy and Chemist at Play, has raised $7 million in a recent Series A funding round. The leading investor in this round is the renowned Amazon Smbhav Venture Fund, showcasing a solid vote of confidence in Innovist’s potential.
This funding round also saw active participation from existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar, former KKR India head Sanjay Nayar, Accel India, and Sauce.vc. The collective support from these investors underscores the promising trajectory of Innovist in the personal care product industry.
Established in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist, formerly Onesto Labs, has carved a niche by offering innovative personal care products. The company boasts three successful brands – Bare Anatomy, Chemist at Play, and SunScoop.
The freshly infused $7 million capital is earmarked for various strategic initiatives, including product innovation, market expansion, and team augmentation. This financial boost is crucial for Innovist as it seeks to solidify its presence in the competitive personal care market.
This recent funding round follows the success of Innovist’s previous funding endeavours. In April of the previous year, the Gurugram-based firm secured $3.5 million in its pre-Series A round, with leading investors being Accel Partners and 72 Ventures. Notably, the startup raised $500K in seed funding from Sauce Venture Capital in 2019.
In the broader context of venture funding in the consumer product space, Amazon Smbhav Venture Fund has been an active player. In May, the fund spearheaded a $13.5 million funding round in XYXX, a men-focused premium innerwear and lifestyle brand. Amazon Smbhav Venture Fund has also demonstrated support for other promising startups like M1xchange, The Good Glamm Group, Cashify, Fitterfly, and Smallcase.
With this latest injection of capital, Innovist is well-positioned to amplify its impact, drive innovation in personal care, and expand its market reach. The Series A funding not only reflects investor confidence but also signals a new chapter of growth and development for Innovist and its portfolio of brands.
