Parent company of Bare Anatomy, Innovist has secured Series B funding worth $15.8 million to reshape the beauty and personal care landscape through science-backed product development, rapid market expansion, and deeper penetration into India’s booming D2C ecosystem. The round, led by ICICI Venture’s IVen Amplifi fund, included a mix of primary and secondary components.

With this Series B funding, Innovist plans to elevate its science-backed haircare and skincare products portfolio, which has already made a strong mark in India’s D2C space.

The funding also saw participation from Sauce.vc, Mirabilis Investment Trust, and Niveshaay Investment. Early-stage investor Accel exited during this round, marking a significant shift in Innovist’s cap table as it prepares for aggressive market expansion.

Innovist Charts Growth in Beauty and Personal Care

Since its founding in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has positioned itself as a beauty and personal care industry leader.

The company’s D2C brands, known for transparency and efficacy, cater to a new generation of conscious consumers. Each science-backed product under the Innovist umbrella reflects its commitment to ingredient-level clarity, high-quality formulations, and sustainable practices.

With fresh Series B funding, Innovist will channel capital into developing advanced R&D labs, scaling up marketing efforts, and expanding offline and online distribution—a necessary step to accelerate its ongoing market expansion efforts in Tier-1 and Tier-2 Indian cities.

In FY23, Innovist posted operational revenue of INR 36.53 Cr, though it incurred a loss of INR 16.87 Cr. However, the brand has since pivoted towards higher operational efficiency.

CEO Rohit Chawla stated that the company aims to cross INR 300 Cr in revenue by the end of FY25. This forecast reflects the success of its science-backed D2C approach in India’s increasingly competitive beauty and personal care sector.

With this Series B funding, Innovist joins the league of fast-scaling startups positioned to dominate India’s D2C beauty revolution. The company previously raised $7 million in Series A funding from the Amazon Smbhav Venture Fund, further anchoring its R&D and product innovation strategy.

Innovist Sets the Tone for the Future

India’s beauty and personal care sector, valued at $5 billion, is projected to reach $28 billion within five years. The growth is driven by a consumer shift toward clean labels and science-backed formulations, especially in digital-first D2C channels. Innovists’ focus on transparency and clinically effective products puts them in a prime position to capitalize on this trend.

As large FMCG players like Hindustan Unilever, Marico, and ITC pursue acquisitions to boost their portfolios, Innovist’s potential for future exits or strategic partnerships strengthens. Its Series B funding validates its market appeal. It bolsters its ambition for aggressive market expansion across South Asia and, eventually, global markets.

Armed with Series B funding, a strong team, and a portfolio of science-backed products, Innovist now leads the charge in India’s D2C beauty and personal care transformation. With a sharp eye on market expansion, the company aims to become a globally recognized clean beauty innovator.

As the industry shifts toward intelligent skincare, transparency, and direct customer engagement, Innovist stands out as a high-growth contender, reshaping how consumers experience beauty and personal care products.

Stay ahead of the curve and follow IndiaTechDesk on Facebook, Twitter and Linkedin for in-depth news of market trends, funding updates, and regulatory changes affecting startups in India.