In its seed round, friends and relatives contributed $1.2 million to the skincare business CHOSEN. As part of the SPARK program for women entrepreneurs, Peak XV Partners awarded a $100,000 equity-free grant prior to this funding.
The money raised will be put towards expanding its workforce and improving its supply chain operations.
Read also – Maino.ai Secures $1.8 Mn Funding Led by India Quotient Advisers LLP
CHOSEN is growing into IoT-led skincare solutions while concentrating on creating cutting-edge skincare products through technology formulas and patents.
CHOSEN asserts that it has created an ecosystem spanning many channels with highly active cosmetic goods specifically designed for Indian skin types. As of right now, it has 34 SKUs available, and throughout the next 18 months, 12 more are expected to be added.
Renita, founder, CHOSEN, said: “With the strength of that growth, and hopefully later this year, we will be looking to associate with interested VCs who have already expressed a lot of interest, post-Spark, to see if we can associate for a Pre-Series funding round at $10 to $20 million,”
About CHOSEN
Founded in 2020 by Dr. Renita Rajan, CHOSEN addresses the need for high-performance skin care products with its cosmeceutical and nutraceutical offerings sold through its e-commerce platform
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