Chennai-based skincare startup CHOSEN has lately made headlines with its impressive $1.2 million seed funding round. The boost comes from a close-knit network of friends and family. It is now another feather in the cap for the young company that was founded by cosmetic dermatologist Dr. Renita Rajan.
The journey of CHOSEN is inspiring and particularly in a market that is mainly dominated by global giants and long-established brands. The startup is setting itself apart by its commitment to innovation. It is emphasizing on patenting new formulations and simultaneously utilizing technology to come up with effective skincare solutions. Its main focus is on the unique needs of Indian skin types and this highlights their commitment to serving their primary audience further.
The recent success of CHOSEN is the equity-free grant of $100,000 from Peak XV Partners. The new capital is a part of its SPARK program for women entrepreneurs. The grant provides a financial boost and also placed it in the spotlight. It also highlights the potential of women-led startups in the skincare industry.
The new funding of $1.2 million is learned to be enabling CHOSEN to scale its operations significantly. The funds will also help in expanding the team as well as enhancing supply chain capabilities. The startup aims to double its scale in this fiscal year. It is of course a bold target and reflects its confidence as well as market potential.
The product lineup of CHOSEN is extensive and meticulously curated too. Its currently offers 34 SKUs and 12 more are to be launched over the period of next 18 months. It offers a diverse range of products designed to cater to varied skincare needs.
