Beauty brand Conscious Chemist has secured bridge funding from early-stage investor Inflection Point Ventures.
The funds raised will be used to expand product categories, improve brand presence and establish offline retail stores, the company said. It didn’t disclose the amount it raised.
The bridge round comes a little less than two years after cosmetics firm Lotus Herbals Pvt. Ltd picked up a 25% stake in Conscious Chemist, which is operated by Era Botanics Pvt. Ltd, in January 2022.
Founded in 2019 by Robin Gupta and Prakher Mathur, Conscious Chemist is a beauty products brand. The company says its products are made from non-toxic formulations. It has a portfolio of 29 products and claims to sell around 25,000 units each month across India.
“This partnership with IPV will allow us to execute our business plan and grow more than 50% quarter-on-quarter at a healthy EBITDA level. We will double down on our digital footprint with penetration into online marketplaces while improving our offline channels,” said Gupta, co-founder and chief executive officer, Conscious Chemist.
Ivy Chin, partner, Inflection Point Ventures, said that there has been a change in consumer behaviour with respect to beauty and skincare products in the last three to five years.
“The emergence of influencers and celebrities sharing their beauty regimen has only accelerated the narrative around clean and sustainable beauty products and Conscious Chemist has carved out the right niche in it,” Chin said.
This is the third investment by IPV in November. Last week, it led the $300,000 pre-Series A funding round of dairy and breakfast essentials brand Happy Nature. Earlier this month, it led New Delhi-based FroGo’s $1.15 million seed funding round.