Innovist, the parent company of consumer brands such as Bare Anatomy and Chemist at Play, has raised $7 million in a Series A funding round led by Amazon Smbhav Venture Fund.
Existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar and former KKR India head Sanjay Nayar, Accel India and Sauce.vc, also participated in the round.
The proceeds will be used 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.
In April last year, the Gurugram-based firm had raised $3.5 million in its pre-Series A round led by existing investors Accel Partners and 72 Ventures. Before that, the startup had raised $500K in its seed funding round from Sauce Venture Capital in 2019.
In May, Amazon Smbhav Venture Fund led $13.5 million round in men-focused premium innerwear and lifestyle brand XYXX. The fund has also backed startups like M1xchange, The Good Glamm Group, Cashify, Fitterfly, and Smallcase.