Onesto Labs, the parent company of Bare Anatomy and Chemist at Play, has raised $2.5 million in a Pre Series A funding led by 72 Ventures along with Sanjay Nayar’s family trust.
Sanjay Nayar is the husband of Falguni Nayar, Founder, Nykaa, and is also the present Chairman of KKR India.
Existing investors Sauce VC and Arihant Patni of Patni Family Office also participated in the fundraising, as did angel investors Ramakant Sharma (Livspace founder), Suhail Sameer (BharatPe CEO), and Rajeev Chitrabhanu (Magnetic founder).
“This investment will help us double down on R&D activities and expand our manufacturing and distribution capabilities,” said Rohit Chawla, Chief Executive Officer, Onesto Labs.
Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Onesto’s brands Bare Anatomy and Chemist at Play sell personal care products on their own websites and e-tail platforms like Amazon India and Nykaa.
The company’s business has quintupled since the beginning of the pandemic and it is now targeting annual recurring revenue of Rs 60 crore in the next 18 months from 12 crore at present.