D2C Startup Onesto Labs Raises Funds From 72 Ventures, Sanjay Nayar, Others
Summary
Mumbai-based Onesto Labs, which operates D2C personal care brands Chemist at Play along with Bare Anatomy, has raised $2.5 Mn in a funding round led by 72 Ventures along with Sanjay Nayars family trust. The startup, back in 2019, had raised $500K in a seed round from Sauce Venture Capital.Founded by Rohit Chawla, Sifat Khurana and Vimal Boha, Onestos Bare Anatomy offers customised beauty care products. The D2C brand claims to be free of harmful chemicals, vegan and People for the Ethical Treatment of Animals (PETA)-certified, and in adherence to European Union (EU) norms and clean beauty standards. At present, Bare Anatomy offers products related to skins and hair and can be found on leading ecommerce websites such as Amazon and Nykaa.It is worth noting that Chawla had earlier cofounded The Man Company in 2013, another D2C brand that specialises in personalised care products for men, such as razor, shaving cream, lotion among others. Brands such as MamaEarth, Plum, Juicy Chemistry, SUGAR Cosmetics, The Man Company and others are becoming increasingly popular among consumers.As per Inc42 Data Plus report , the Indian D2C market is expected to triple from $33.1 Bn in 2020 to touch $100 Bn by 2025 on the back of the projection that online shoppers in India will reach 350 Mn by FY25, up from 128 Mn in FY21.