Innovist (previously Onesto Labs) the parent company of D2C hair brand Bare Anatomy, Chemist at Play, and SunScoop, based in Gurugram, has raised $3.5 million (about Rs 27 crore) in pre-Series A fundraising led by Accel Partners and 72 Ventures.
Investors including Sauce (Manu Chandra) and Arihant Patni (Patni Family Office), Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Kunal Shah (Cred), Alok Mittal, and Shripad Nadkarni (Maverix Platforms & Fingerlix) also participated in this funding round.
The new funds will be used to expand Innovist’s research and development capabilities, as well as its marketing, hiring, and distribution channels.
“The name Innovist was coined because we are a science and innovation-led platform and we wanted the name to reflect that. The journey so far has been incredible. With the new capital, we are confident that we can bolster our infrastructure substantially and grow further,” said Rohit Chawla, founder and chief executive officer of Innovist.
Innovist’s brands Bare Anatomy, Chemist at Play, and SunScoop sell beauty and personal care products and were founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola. These items are available for purchase through their website, various types of e-commerce platforms, and many more places.
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“Innovist is a brand entirely driven by science and safe, clean ingredients and is anchored on transparency. From a business standpoint, a vertical house of brands enables us to extract the best possible value from demand and supply by innovating high-quality products while managing cost and operational efficiencies. We look forward to Rohit and team continuing their stellar work and launching world-class products in the BPC category for India and its adjacent markets,” said Radhika Ananth, vice president, Accel Partners.
Onesto Labs raised $500,000 in a seed funding round led by Sauce Venture Capital, a consumer-focused private investment firm, in 2019.
Innovist is synonymous to all things Clean, Transparent, and Scientific. A one-stop shop for products with proven efficacy!
The triangle in Innovist symbolizes perfectness, unity, and importance. It is marked as the strongest unit that balances all the aspects of idealism.