Onesto Labs, the parent company of direct-to-consumer personal care brands Chemist at Play and Bare Anatomy has raised about $2.5 million (Rs 18 crore) in a funding round led by 72 Ventures.
Existing investors Sauce VC and Arihant Patni of Patni Family Office also participated in the funding round along with a host of angel investors.
The company will utilise the funds to strengthen its research and development capabilities, hiring new talent, and brand building initiatives.
The start-up had raised $500K in a seed round from Sauce Venture Capital in 2019 and since then strengthened its presence in the haircare and skincare market. It plans to further consolidate its market position and make deeper inroads in the booming D2C market in India.
“This investment will help us double down on R&D activities and expand our manufacturing and distribution capabilities,” Rohit Chawla chief executive officer of Onesto Labs said on the fundraise.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Onesto sells its brands through its website and leading e-commerce platforms like Amazon India and Nykaa among others.
Copyright © 2021 Hermesbelts.co.uk All rights reserved.