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D2C Skincare Brand CHOSEN Raises USD 1.2 Million in Seed Funding

2024/06/10 10:22 am


Chennai-based skincare startup CHOSEN has raised USD 1.2 million in a seed funding round from friends and family. This funding follows an equity-free grant of USD 100,000 from Peak XV Partners as part of the SPARK program for women entrepreneurs.

In its fourth year, the D2C brand presently has plans to utilize the funds to grow its headcount and enhance its supply chain capabilities.

"Our next step is to explore partnerships with B2B sectors such as hospitality, health, travel, and leisure to expand our distribution channels. Our goal is to secure pre-series funding of USD 10 to USD 20 million later this year,” said Dr. Renita Rajan, founder of the company.

CHOSEN focuses on developing innovative skincare products through patents and cutting-edge formulations while expanding into IoT-led skincare solutions, it said in a statement.

With an LED mask design patent and four additional patents in progress, CHOSEN® recently launched SAFESCREEN® TINTENSE™ Tinted Sunscreen Lotion, an outstanding tinted sunscreen featuring India’s first-ever combination of non-nano zinc, non-nano titanium, and non-nano iron oxide. This made-for-India, pregnancy, nursing, and reef-safe sunscreen offers high-level protection against HEVL, UV, and IR rays while providing flawless coverage, containing up to 93.04% natural, biodegradable content. Additionally, there are several ongoing innovative projects, including a melanin lab and IoT-driven personalized skincare technology.

Currently, the skincare brand offers 34 SKUs, with 12 more in the pipeline and additional products slated for launch within the next 18 months. With a headcount of 130 and plans for further recruitment, CHOSEN is poised for significant growth, projecting a 2x increase in scale this fiscal year.

CHOSEN® is a pioneering beauty and wellness brand in India, deeply rooted in dermatological expertise and a commitment to customer satisfaction. Their products, carefully formulated with high-quality ingredients and validated by scientific research, are designed to meet the diverse needs of individuals of all ages and skin types. Embracing inclusivity, CHOSEN® offers safe formulations, including specialized lines tailored for pregnant and nursing mothers, ensuring that everyone can indulge in self-care without compromise.

India is home to lots of skincare start-ups. According to a Kings Research analysis, the size of the worldwide skincare market was estimated to be USD 135.23 billion in 2022 and is expected to rise at a CAGR of 7.25% from 2023 to 2030 to reach USD 234.10 billion. Some of the skincare start-ups in India include Mamaearth, mCaffeine, Sugar Cosmetics, Purplle, and others.

 

Article Source – CHOSEN Press Release

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