Bare Anatomy, Chemist at Play, and SunScoop are all products of Innovist, launched in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola. Many stocks in the company’s future are riding on new technological developments. With its R&D lab and substantial investments in the systematic analysis of consumer skin care demands, the company has successfully entered all three market segments: skin care, hair care, and sun care.
To close the gap between the rest of the world and the Indian market regarding research-driven products, the company’s founders devised a method of manufacturing goods in India that is available to customers elsewhere. The company has introduced many new items by shaking up established categories with simple recipe innovations.
As fad ingredients come and go, the true science gets buried. ‘When I set out to start Innovist, I set out to completely disrupt the business from the ground up,’ said Rohit Chawla, the company’s current CEO and founder.
With our R&D center and manufacturing capabilities, we feel incredibly secure about our future,” he continued. “We have acquired much product development knowledge over four years.”
A profusion of New Ideas
Hair tonics with Bare Anatomy, mineral sunscreen with SunScoop, and body lotions with actives for Chemist at Play are just a few examples of the innovative goods that Innovist has brought to the Indian market. As Chawla put it, “having direct control over the quality of our products is a critical distinction,” The company’s commitment to ongoing innovation in response to consumer demand sets it apart.
The company can experiment with new ideas without worrying about outsiders’ opinions because it has research and development facilities, and one of its founders is a scientist. The company is committed to putting forward items that can be backed with evidence; thus, it sources components from around the world and puts each product through rigorous clinical testing.
All three Innovist brands—Bare Anatomy, Chemist at Play, and SunScoop—have been direct-to-consumer from the start and are expanding at a rate of one hundred percent.
When introducing a nontraditional business like ours, rapid responses are essential. We could learn faster, thanks to D2C, than we would have through any other route. Around 60% of our revenue comes from this channel, so it’s paid off for us to go straight to the client,” Chawla said.
Innovist has collaborated with Dabur, New U in the north, and Health and Glow in the south to win over customers and is also working with Reliance and Le Marche. Innovist is practically omnichannel because of its presence on Amazon and Nykaa; the company’s founder and CEO have stated that they intend to increase their presence in physical stores while also expanding their direct-to-consumer sales.
Investment and Funding
The company secured pre-series A finance of $3.2 million in 2022. Accel Partners and 72 Ventures, both of whom had previously invested, led the round, with participation from a large number of other investors, including Sauce (Manu Chandra and Arihant Patni of the Patni Family Office), Jani Ventures Inc., Nihir Parikh Rashmi Kwatra of Sixteen Street Capital, Kunal Shah of Cred, Alok Mittal, and Shripad Nadkarni (Maverix Platforms & Fingerlix).
Company officials have stated they want to invest money in R&D and bolster its workforce, marketing, and production.
Now in its fourth year, the company’s development is apparent, especially considering the worldwide move to the internet. With a direct-to-consumer strategy, it attracted the attention it needed to expand its clientele.
According to Chawla, the company’s revenue has tripled since the start of this year.
In the future, we hope to continue providing for customers while listening to their suggestions and filling in any holes in our offerings based on their demands. Since innovation is at the heart of what we do, we don’t anticipate any major shifts,” he continued, “but we do plan to advance the same.”
Innovist is releasing a new kind of body lotion in collaboration with Bare Anatomy just in time for the next winter. The SunScoop mineral sunscreen will be released simultaneously with this product.
The brand is slowly expanding from its current few markets. Chawla thinks there’s a lot of work to be done in the Indian market even though Innovist is expanding internationally.
We expect our brands to be in every home within the next five years,” Rohit Chawla said.