Gurugram-based personal care company Innovist has secured Rs 136 crore (around $16 million) in a fresh funding round led by ICICI Venture. Innovist, known for its popular brands like Bare Anatomy, Chemist at Play, and Sunscoop, plans to use the new funding to focus on product innovation, expanding its reach across India, and building a stronger team.
This round includes both primary and secondary funding. As part of the deal, early-stage investor Accel made a complete exit from the company. Accel had invested in Innovist through its seed-stage program called Atoms. Other investors in this round include Mirabilis Investment Trust, Niveshaay Investment, and returning investor Sauce VC.
Funding in Personal Care Brand Innovist
ICICI Venture has backed Innovist through its newly launched early-growth fund, IVen Amplifi. Sharad Malpani, Director at ICICI Venture and Co-head of the fund, expressed confidence in Innovist’s growth, saying that the company has shown strong performance in a highly competitive beauty and personal care (BPC) market.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist was originally named Onesto Labs. In 2022, the company rebranded as Innovist to highlight its focus on science-backed personal care products. The brand promotes clean and dermatologically tested formulations developed through deep research and development (R&D).
Focus on Science-backed Products
Innovist stands out in the Indian BPC space due to its emphasis on in-house manufacturing and scientific innovation. With its science-first approach, the company has rapidly grown and claims to have crossed Rs 300 crore in revenue for the financial year 2025. CEO and co-founder Rohit Chawla believes Innovist is among the fastest-growing companies in the Indian personal care market.
Manu Chandra, founder of Sauce VC, praised the founders for building a vertically integrated personal care brand with strong control over manufacturing and product development. According to Chandra, Innovist’s strong understanding of innovation and science helps the company stay ahead in a competitive industry.
Innovist Continues to Attract Investor Interest
This new funding round follows Innovist’s Rs 58 crore Series A funding in November 2023. With the current round, Innovist has raised over $26 million in total funding to date. The company is expected to use this capital to develop new products, expand distribution, and enhance its team strength in the coming months.
