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Innovist, Home to Bare Anatomy, Raises $7 Million in Series A Funding Led by Amazon Smbhav Venture Fund

Innovist, the parent company behind popular consumer brands such as Bare Anatomy and Chemist at Play, has secured $7 million in a Series A funding round. The funding, spearheaded by Amazon Smbhav Venture Fund, marks a pivotal moment for the Gurugram-based company founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola.

Strategic Allocation for Growth

The substantial funds raised in this round are earmarked for critical initiatives pivotal to Innovist’s growth strategy. Foremost among these is a commitment to product innovation, reinforcing the company’s reputation for cutting-edge personal care solutions. Additionally, a significant portion of the funding will be directed towards market expansion, positioning Innovist for a more extensive reach both domestically and internationally.

Team building emerges as a crucial focus, with Innovist recognizing the importance of assembling a skilled and dedicated workforce. By investing in its team, the company aims to enhance operational capabilities, ensuring it remains at the forefront of the competitive personal care products industry.

Impressive Track Record

This funding round follows a series of successful capital raises for Innovist. In April of the previous year, the company secured $3.5 million in a pre-Series A round led by existing investors Accel Partners and 72 Ventures. Prior to that, a seed funding round in 2019 saw a substantial infusion of $500,000 from Sauce Venture Capital.

Brand Portfolio Highlights

Innovist’s commitment to innovation and quality is exemplified by its diverse brand portfolio. Bare Anatomy, one of its flagship brands, has gained prominence for its personalized and high-quality hair care products, resonating well with a discerning consumer base.

Chemist at Play, another brand under the Innovist umbrella, offers a range of personal care products that seamlessly blend science and playfulness. This unique approach caters to consumers seeking innovative and effective solutions for their skincare and wellness needs.

SunScoop, the third brand in Innovist’s lineup, specializes in sun care products. As awareness around sun protection grows, SunScoop positions itself as a reliable choice for consumers seeking top-notch sun care solutions.

Strategic Partnership with Amazon Smbhav Venture Fund

The lead role played by Amazon Smbhav Venture Fund in this Series A round adds significant weight to Innovist’s growth trajectory. Known for its strategic investments in innovative startups, the fund’s involvement is expected to provide not only financial support but also valuable insights and resources to propel Innovist’s expansion plans.

A Dynamic Funding Landscape

Amazon Smbhav Venture Fund’s recent strategic investments in the consumer products sector include leading a $13.5 million funding round in XYXX, a premium innerwear and lifestyle brand focused on men’s fashion. This further underscores the fund’s commitment to fostering innovation across various sectors, evident in its support for startups like M1xchange, The Good Glamm Group, Cashify, Fitterfly, and Smallcase.

Positioned for Success

As Innovist enters the next phase of its growth journey fueled by the recent funding infusion, the company is poised to solidify its position as a leader in the personal care products industry. With a clear focus on innovation, market expansion, and team development, Innovist aims to continue delivering exceptional products and experiences to its customers, setting the stage for sustained success in the dynamic and competitive consumer goods market.

Elivaas Secures $2.5 Million in Seed Funding Led by Peak XV Partners’ Surge

Elivaas, a technology-driven villa and luxury apartment management company, has announced the successful closure of a $2.5 million seed funding round. The funding was led by Peak XV Partners‘ Surge, a rapid scale-up program known for nurturing early-stage startups, and saw participation from a group of distinguished angel investors including Naveen Kukreja, Kunal Shah, Mohit Gupta, Amit Lakhotia, Ravi Singhvi, Anant Apurv Kumar, Parag Aggarwal, and Toranj Mehta, among others.

The infusion of capital is earmarked for key strategic initiatives, primarily the expansion of Elivaas’ market presence across high-footfall cities in India and the enhancement of its proprietary technology platform. Elivaas, founded by Ritwik Khare, has positioned itself as a platform dedicated to helping property owners monetize, monitor, and maintain their vacation homes, with a commitment to delivering a stellar 7-star experience for both partners and guests.

Since its establishment in January 2023, Elivaas has made notable strides, boasting a portfolio of over 50 properties situated in coveted locations such as Goa, Udaipur, Delhi NCR, and Kufri. Impressively, the startup has consistently maintained over 50% occupancy in its rental homes throughout various seasons, signaling a strong demand for its services.

Elivaas faces competition from StayVista, which secured a substantial Rs 40 crore ($5 million) in funding led by DSG Consumer Partners in the previous year. However, with the recent injection of funds, Elivaas aims to solidify its position in the market by establishing a robust presence in high-traffic urban centers and further bolstering its technological infrastructure.

The funds raised will be instrumental in executing Elivaas’ vision to redefine the landscape of vacation home management, offering a seamless and sophisticated solution for property owners seeking efficient management of their luxury assets. The company envisions leveraging the investment to elevate its service offerings and provide an unparalleled experience for property owners and guests alike.

Notably, Elivaas is part of Peak XV Partners’ Surge program, which recently launched its ninth cohort featuring 32 founders across 13 startups. This association positions Elivaas within a dynamic community of early-stage startups, benefitting from mentorship and support under the umbrella of Surge.

The successful seed funding round not only validates Elivaas’ innovative business model but also propels the company into a phase of accelerated growth and expansion. As the real estate and hospitality sectors continue to undergo transformative changes, Elivaas stands poised to lead the charge in redefining the experience of managing and enjoying vacation homes.