Innovist will use the funds to bolster the company’s R&D capabilities, marketing, hiring, and distribution channels
New Delhi June 15, 2022: Onesto Labs, rebranded as Innovist, the parent company of Gurgaon-based D2C hair brand Bare Anatomy, Chemist at Play (India’s first ceramide-based skincare brand), and SunScoop (a sunscreen-only brand) has raised USD 3.5 million. The Pre-Series A funding round was led by existing investors Accel Partners and 72 Ventures.
Other prevailing investors Sauce (Manu Chandra) & Arihant Patni (Patni Family Office) and new investors Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Kunal Shah (Cred), Alok Mittal, and Shripad Nadkarni (Maverix Platforms & Fingerlix) also participated. Innovist will use the freshly infused capital to further strengthen the company’s R&D capabilities, marketing, hiring, and distribution channels.
Rohit Chawla, Founder and CEO of Innovist, said, “The name Innovist was coined after we decided to rebrand from Onesto because we are a science and innovation-led platform, and we wanted the name to reflect that. The journey so far has been incredible. We are grateful to our investors for their renewed faith in us and for always staying aligned with our vision. Their unrelenting support has helped lay a strong foundation upon which our success is built. With the new capital, we are confident that we can bolster our infrastructure substantially and grow further.”
“Innovist is a brand entirely driven by science and safe, clean ingredients and is anchored on transparency. Both as an investor and a power user, I love the efficacy and personalisation of the skin and hair care products they offer. 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,” added Radhika Ananth, VP, Accel Partners.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Onesto Labs (Innovist) is on a mission to revolutionise the personal care & beauty industry with products that are science-first in approach. Innovist’s brands Bare Anatomy, Chemist at Play, and SunScoop sell beauty & personal care products designed with ingredients that have proven efficacy and are backed by scientific research. These products are sold on their website (innovist.com), e-commerce platforms like Amazon, Nykaa, and modern retail stores across India. Innovist recently received a significant investment in its nutraceuticals brand Nudge from Nykaa. Onesto Labs was also part of Accel’s Atoms first cohort, launched last year to support early-stage startups.