Innovist's Bold Leap: Fueling Growth in the Beauty Industry
April 9, 2025, 3:34 am
Location: India, Haryana, Gurugram
Employees: 51-200
Founded date: 2018
Total raised: $15.82M
Innovist, the parent company of popular personal care brands like Bare Anatomy and Chemist at Play, has made headlines with its recent funding round. The company secured INR 136 crore (approximately USD 16 million) from ICICI Venture, marking a significant milestone in its journey. This infusion of capital is not just a financial boost; it’s a signal of confidence in Innovist’s vision and potential.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has quickly carved a niche in the competitive beauty and personal care (BPC) market. The company, originally known as Onesto Labs, rebranded in 2022 to reflect its commitment to science-driven innovation. This shift was more than cosmetic; it was a strategic move to align its identity with its core values.
The latest funding round is a testament to Innovist's rapid growth. The company has already crossed INR 300 crore in revenue for FY25, positioning itself among the fastest-growing BPC companies in India. This growth trajectory is impressive, especially in a market teeming with competition. Innovist’s focus on clean, dermatologically tested formulations sets it apart. The company prides itself on its in-house manufacturing capabilities, which allow for greater control over quality and innovation.
ICICI Venture’s investment is a strategic partnership. It’s not just about the money; it’s about shared vision and ambition. The investment will fuel product innovation, expand market reach, and strengthen the team. This is crucial in an industry where trends shift like sand dunes. Innovist aims to stay ahead of the curve, continually adapting to consumer needs and preferences.
The funding round also saw a complete exit from early investor Accel, which had supported Innovist since its seed stage. This exit indicates confidence in Innovist’s future. It suggests that early investors believe the company is now poised for greater heights. Other participants in this round included Mirabilis Investment Trust, Niveshaay Investment, and returning investor Sauce VC. Each of these players brings unique strengths to the table, enhancing Innovist’s potential for success.
The beauty industry is evolving. Consumers are increasingly seeking products that are not only effective but also safe and sustainable. Innovist’s commitment to R&D is a response to this demand. The company’s portfolio includes hair care, skincare, and sun protection products, all developed with a scientific approach. This focus on innovation is essential in a market where consumers are more informed and discerning than ever.
The founders of Innovist understand the importance of a vertically integrated business model. By controlling the entire process—from research and development to manufacturing and distribution—they can ensure quality and consistency. This model also allows for quicker responses to market changes. In a world where trends can emerge overnight, agility is key.
The investment from ICICI Venture is a vote of confidence in this model. It signals that investors believe in Innovist’s ability to navigate the complexities of the BPC market. The company’s emphasis on scientific innovation and clean formulations resonates with today’s consumers, who are increasingly prioritizing health and wellness.
As Innovist prepares to leverage this new funding, the focus will be on expanding its product lines and enhancing its market presence. The beauty industry is not just about products; it’s about storytelling. Innovist has a compelling narrative—a blend of science, innovation, and consumer-centricity. This story will be crucial as the company seeks to capture a larger share of the market.
Moreover, the beauty industry is witnessing a shift towards digital platforms. E-commerce has become a vital channel for reaching consumers. Innovist’s strategy will likely include strengthening its online presence, utilizing social media, and engaging with consumers directly. This direct-to-consumer approach can foster loyalty and build a community around its brands.
The road ahead is filled with opportunities and challenges. Innovist must navigate a landscape that is constantly changing. Consumer preferences evolve, and new competitors emerge. However, with a solid foundation and a clear vision, Innovist is well-positioned to thrive.
In conclusion, Innovist’s recent funding round is more than just a financial transaction. It’s a strategic move that underscores the company’s growth potential in the beauty and personal care industry. With a focus on innovation, quality, and consumer engagement, Innovist is poised to make waves. The journey is just beginning, and the horizon looks promising. As the company continues to innovate and expand, it will undoubtedly shape the future of beauty in India and beyond.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has quickly carved a niche in the competitive beauty and personal care (BPC) market. The company, originally known as Onesto Labs, rebranded in 2022 to reflect its commitment to science-driven innovation. This shift was more than cosmetic; it was a strategic move to align its identity with its core values.
The latest funding round is a testament to Innovist's rapid growth. The company has already crossed INR 300 crore in revenue for FY25, positioning itself among the fastest-growing BPC companies in India. This growth trajectory is impressive, especially in a market teeming with competition. Innovist’s focus on clean, dermatologically tested formulations sets it apart. The company prides itself on its in-house manufacturing capabilities, which allow for greater control over quality and innovation.
ICICI Venture’s investment is a strategic partnership. It’s not just about the money; it’s about shared vision and ambition. The investment will fuel product innovation, expand market reach, and strengthen the team. This is crucial in an industry where trends shift like sand dunes. Innovist aims to stay ahead of the curve, continually adapting to consumer needs and preferences.
The funding round also saw a complete exit from early investor Accel, which had supported Innovist since its seed stage. This exit indicates confidence in Innovist’s future. It suggests that early investors believe the company is now poised for greater heights. Other participants in this round included Mirabilis Investment Trust, Niveshaay Investment, and returning investor Sauce VC. Each of these players brings unique strengths to the table, enhancing Innovist’s potential for success.
The beauty industry is evolving. Consumers are increasingly seeking products that are not only effective but also safe and sustainable. Innovist’s commitment to R&D is a response to this demand. The company’s portfolio includes hair care, skincare, and sun protection products, all developed with a scientific approach. This focus on innovation is essential in a market where consumers are more informed and discerning than ever.
The founders of Innovist understand the importance of a vertically integrated business model. By controlling the entire process—from research and development to manufacturing and distribution—they can ensure quality and consistency. This model also allows for quicker responses to market changes. In a world where trends can emerge overnight, agility is key.
The investment from ICICI Venture is a vote of confidence in this model. It signals that investors believe in Innovist’s ability to navigate the complexities of the BPC market. The company’s emphasis on scientific innovation and clean formulations resonates with today’s consumers, who are increasingly prioritizing health and wellness.
As Innovist prepares to leverage this new funding, the focus will be on expanding its product lines and enhancing its market presence. The beauty industry is not just about products; it’s about storytelling. Innovist has a compelling narrative—a blend of science, innovation, and consumer-centricity. This story will be crucial as the company seeks to capture a larger share of the market.
Moreover, the beauty industry is witnessing a shift towards digital platforms. E-commerce has become a vital channel for reaching consumers. Innovist’s strategy will likely include strengthening its online presence, utilizing social media, and engaging with consumers directly. This direct-to-consumer approach can foster loyalty and build a community around its brands.
The road ahead is filled with opportunities and challenges. Innovist must navigate a landscape that is constantly changing. Consumer preferences evolve, and new competitors emerge. However, with a solid foundation and a clear vision, Innovist is well-positioned to thrive.
In conclusion, Innovist’s recent funding round is more than just a financial transaction. It’s a strategic move that underscores the company’s growth potential in the beauty and personal care industry. With a focus on innovation, quality, and consumer engagement, Innovist is poised to make waves. The journey is just beginning, and the horizon looks promising. As the company continues to innovate and expand, it will undoubtedly shape the future of beauty in India and beyond.