Innovist, the parent company of consumer brands like Bare Anatomy and Chemist at Play has raised $7 million (Rs 56 crore) in a series A funding round led by Amazon Smbhav Venture Fund.
The funding round saw participation by existing investors 72 Ventures, the family office of Nykaa founder Falguni Nayar, former KKR India head Sanjay Nayar, Accel India and Sauce VC.
The company will utilise the funds on diversification of its product portfolio, market expansion, and team building.
Commenting on the investment, a spokesperson for Amazon Smbhav Venture Fund in a statement said, “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.”
Rohit Chawla, CEO of Innovist added, “The capital infusion will be allocated to achieve several key objectives such as product innovation, market expansion, and team building.”
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist, earlier known as Onesto Labs, offers personal care products. It currently has three brands – Bare Anatomy, Chemist at Play, and Sunscoop.
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