Chennai Skincare Startup CHOSEN Secures $1.2M Seed Funding
Introduction:
Introduction:
Chennai-based skincare startup CHOSEN, founded by cosmetic dermatologist Dr. Renita Rajan, focuses on innovative skincare solutions for Indian skin types using patents and advanced technology formulations.
Recent Funding:
Recent Funding:
CHOSEN secured $1.2 million in seed funding from friends, family, and anonymous investors, following a previous grant of ₹8.1 crore from Peak XV Partners through the SPARK program, supporting women entrepreneurs.
Use of Funds:
Use of Funds:
The recent capital infusion will be used to enhance CHOSEN's workforce and logistical capabilities, supporting the company's goal to expand operational capacity and introduce new product lines.
Expansion Plans:
Expansion Plans:
With 34 SKUs currently available and 12 more products in development, CHOSEN plans to launch additional products over the next 18 months and continue growing its multi-channel ecosystem.
Strategic Partnerships:
Strategic Partnerships:
CHOSEN aims to forge alliances within B2B sectors like hospitality, healthcare, tourism, and recreation to broaden its distribution network, leveraging the new funds to explore untapped growth opportunities.
Future Funding Goals:
Future Funding Goals:
The startup targets securing pre-series funding between $10-20 million (₹84-168 crore) later this fiscal year to further facilitate its expansion and innovation initiatives.
Innovative Approach:
Innovative Approach:
CHOSEN is researching the integration of Internet of Things (IoT) technology into its products, aiming to deliver advanced skincare solutions tailored specifically for Indian consumers.
Swipe up to access the comprehensive article on the topic