Innovist, the parent company of Gurgaon-based D2C haircare brand Bare Anatomy, has raised $7 million in a Series A funding round led by Amazon Smbhav Venture Fund, The Economic Times reported on Tuesday. Separately, omnichannel payment solutions provider PhiCommerce has raised $10 million in a new funding round led by Beenext.
Bare Anatomy parent Innovist raises funding
Innovist, the parent company of Gurgaon-based D2C haircare brand Bare Anatomy, has raised $7 million in a Series A funding round led by Amazon Smbhav Venture Fund, The Economic Times reported on Tuesday.
Existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar and former KKR India head Sanjay Nayar, Accel India and Sauce.vc, also participated in the round.
Last year, the firm had raised $3.5 million in a pre-Series A funding round led by existing investors Accel Partners and 72 Ventures.
Founded in 2018 by Rohit Chawla, Sifat Khurana and Vimal Bhola, Innovist also owns skincare brand Chemist at Play and sunscreen SunScoop.
Payment solutions provider PhiCommerce raises $10m
Omnichannel payment solutions provider PhiCommerce has raised $10 million in a new funding round led by Beenext.
Founded in 2015 by Thattil, Tushar Ashok Shankar, Anil Sohanlal Sharma and Rajesh Hanumantrao Londhe, PhiCommerce also received investment from Opus Ventures in the round.
“We plan to utilise these funds over the next phase of our growth to roll out multiple new products,” said Jose Thattil, chief executive officer (CEO) and co-founder of PhiCommerce. “On the back of our success in the Indian market, we also will be expanding our services to other geographies.”
“PhiCommerce has successfully solved complex payment requirements and demonstrated its prowess to process digital payments at scale in the Indian market. They are now actively expanding their footprint into international markets, aiming to replicate their success on a global scale,” said Hero Choudhary, managing partner at Beenext.