Innovist Raises $3.5 Million In Pre-Series A Funding
The company will use the fund to bolster its R&D capabilities, marketing, hiring and distribution channels
Onesto Labs, rebranded as Innovist, has raised $3.5 million in pre-Series A funding round led by Accel Partners and 72 Ventures. The round also witnessed participation from Kunal Shah (CRED), Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital) among others. The company will use the fund to bolster its R&D capabilities, marketing, hiring and distribution channels.
"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 to 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," said Rohit Chawla, founder and CEO, Innovist.
"Innovist is a brand that entirely driven by science, with safe and clean ingredients and is anchored on transparency. Both as an investor and a power user, I love the efficacy and personalization 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," said Radhika Ananth, vice president, Accel Partners.
Founded in 2018 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist is on a mission to revolutionize the personal care and beauty industry with products that are science-first in approach. Innovist's brands Bare Anatomy, Chemist at Play and SunScoop sell beauty and personal care products designed with ingredients that have proven efficacy and are backed by scientific research, claimed by the brand in a statement.