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Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits

EntrackrEntrackr · 6m ago
Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits
Medial

Innovist, the parent company of Bare Anatomy, has raised Rs 136 crore (approximately $16 million) in a Series B funding round led by ICICI Venture. The round saw participation from Mirabilis Investment Trust, Niveshaay Investment, and existing backer Sauce. The funding round includes both primary and secondary components and will be directed toward product development, business growth, and team expansion, the company said in a media release. In the round, the company provided exit to Accel, which came in via their seed program (atoms). Rohit Chawla, founder and CEO, said that Innovist is one of the fastest-growing BPC (beauty and personal care) firms in the country and aims to cross Rs 300 crore in revenue by FY25. While the company has not yet filed its annual statements for FY24, it reported operational revenue of Rs 36.53 crore in FY23, along with a loss of Rs 16.87 crore. Innovist, previously known as Onesto Labs, was founded in 2018 by Chawla, Sifat Khurana, and Vimal Bhola. The company provides personal care products and currently manages three brands: Bare Anatomy, Chemist at Play, and Sunscoop. To date, Innovist has raised over $26 million, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to startup data platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. It competes with D2C beauty brands like Minimalist, Mamaearth, Wow Skin Science, and Sugar Cosmetics.

Deeptech startup Acculi Labs raises $1.5 Mn

EntrackrEntrackr · 1y ago
Deeptech startup Acculi Labs raises $1.5 Mn
Medial

Acculi Labs, a deep-tech life growth solution provider, has raised $1.5 million in a new investment round at a valuation of $25 million led by Sabi Holding India Ltd. The Bengaluru-based company had earlier raised Rs 5 crore in a seed funding round led by PirE Ventures back in 2020. The fresh fund will be utilized to accelerate the development of its conscious AI insights systems, enhance its manpower, operational efficiency, infrastructure development, Acculi Labs said in a press-release. Co-founded in May 2017 by Rupam Das and Hari Prasath M, Acculi Labs aims to make home-based care available to the patients. The company’s flagship product, Lyfas, enables easy and regular early diagnostics and monitoring for early-stage asymptomatic patients and helps them to approach their doctor at an early stage. According to Acculi Labs, it expanded offerings from an initial cardiac health assessment system to a comprehensive suite of health solutions with the launch of Lyfas.The platform claims that its mobile application is capable of non-invasively capturing psychophysiological biomarkers and delivering a detailed health report within three minutes. The company has developed Lyra, a cutting-edge, conscious AI that bridges the gap between carbon and silicon life forms. It has also launched Lyfas Udyam initiative, which provides a micro entrepreneurial circular economy for small entrepreneurs to start and run their businesses, leveraging the ecosystem, processes, and finance.

Kidswear brand Orange Sugar raises pre-seed round

EntrackrEntrackr · 12d ago
Kidswear brand Orange Sugar raises pre-seed round
Medial

Kidswear brand Orange Sugar has raised Rs 4 crore in a pre-seed funding round from Consumer Collective by Atrium and Ramakant Sharma. The round also saw participation from a group of angel investors including Saurabh Jain, Srivatsan Chari, Kunal Mahipal, Meghana Agarwal, and Sunil Khaitan. The fresh capital will be utilized to launch new product lines and categories within the premium kidswear segment, while further strengthening its distribution network across digital marketplaces, quick commerce and offline retail, Orange Sugar said in a press release. Co-founded in 2022 by Tarun Agrawal, Payal Agarwal, and Bharath Gupta, Orange Sugar addresses the growing demand for high-quality, comfortable, and stylish kidswear for children up to 10 years. The brand offers 100% cotton everyday basics that blend safety, durability, and modern design, catering to the expectations of contemporary Indian parents. According to Orange Sugar, its products are available on leading e-commerce marketplaces such as Myntra, Firstcry, and Nykaa Fashion, along with its own D2C platform. “At Orange Sugar, we’re building India’s go-to brand for the other 80% premium everyday essentials that kids truly live in. This fundraise is a strong validation of our vision, and with the support of experienced investors, we’re ready to scale, innovate, and lead this category with uncompromised quality and trust,” said Tarun Agrawal, co-founder of Orange Sugar.

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