Summary:
Innovist is seeking to raise over $15 million for its brand Bare Anatomy.
The previous funding round raised $7 million at a valuation of $42.5 million.
Funds will be used for product innovation and talent acquisition.
Innovist's Ambitious Funding Plans
Bengaluru-based Innovist, the parent company of the hair care brand Bare Anatomy, is poised to raise over $15 million in a new funding round. This comes after a successful $7 million series A funding led by Amazon Smbhav Venture Fund last year, which valued the firm at $42.5 million.
Current Funding Status
The startup has already secured term sheets from both new and existing investors, indicating strong interest in its growth potential. The funds are expected to be finalized later this month, as per sources close to the matter who prefer to remain anonymous.
Utilization of Funds
The capital raised will primarily be directed towards expansion initiatives, including:
- Product innovation to enhance the brand's offerings.
- Talent acquisition to strengthen the team and drive growth.
This funding round reflects Innovist's commitment to scaling operations and reinforcing its market presence in the competitive hair care sector.
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