Dr. Renita Rajan’s company poised for growth
CHOSEN, a Chennai-based skincare startup founded by cosmetic dermatologist Dr. Renita Rajan, has secured $1.2 million in a seed funding round. This funding comes on the heels of a $100,000 equity-free grant awarded to CHOSEN earlier this year through the SPARK program for women entrepreneurs by Peak XV Partners.
Funds to Fuel Growth and Innovation
The startup financing will be used by CHOSEN to strategically expand its operations and personnel. A primary focus will be on growing its personnel, allowing the organization to bring in new talent and expertise. Furthermore, CHOSEN intends to use the funds to improve its supply chain capabilities, resulting in constant product availability and potentially shorter product development cycles.
Building a Skincare Ecosystem Tailored for India
Founded in 2020, CHOSEN has carved a niche for itself in the Indian skincare market. Dr. Rajan’s expertise as a cosmetic dermatologist is central to the company’s philosophy, which emphasizes developing innovative and effective skincare solutions specifically formulated for Indian skin types. CHOSEN leverages a combination of patented ingredients and cutting-edge formulations to create its products.
The company boasts a multi-channel ecosystem, offering its products directly to consumers through its own online platform as well as through partnerships with other retailers. CHOSEN currently offers 34 distinct stock-keeping units (SKUs) across its product lines, catering to a variety of skincare needs. With 12 additional products in the pipeline and a commitment to launching even more within the next 18 months, CHOSEN demonstrates its dedication to continuous innovation and product expansion.
Looking Ahead: A Two-Fold Increase and Beyond
CHOSEN projects a significant increase in its scale for the current fiscal year, aiming to achieve a two-fold growth. This ambitious target reflects the company’s confidence in its products, its understanding of the Indian skincare market, and its commitment to becoming a leading player in the industry. While CHOSEN has established itself with its current product offerings, the company isn’t resting on its laurels. It is actively exploring the potential of integrating Internet of Things (IoT) technology into its future skincare solutions. This forward-thinking approach positions CHOSEN at the forefront of innovation in the personalized skincare market.
CHOSEN’s Rise in the Indian Skincare Market
The Indian skincare market is experiencing a boom, driven by a growing population with rising disposable incomes and a heightened awareness of personal care. CHOSEN’s success in securing funding reflects the potential investors see in the company’s ability to capitalize on this flourishing market.
Women in Leadership: Dr. Renita Rajan Paves the Way
Dr. Renita Rajan’s leadership as the founder of CHOSEN is not only motivating, but it also contributes to a bigger narrative of female entrepreneurs making their mark in India’s startup scene. The SPARK program grant awarded to CHOSEN emphasizes the importance of efforts that support and develop female-led companies.
CHOSEN’s Continued Journey
With a strong foundation founded on innovation, a dedication to the Indian market, and a vision for the future of skincare, CHOSEN is well-positioned for further growth and success. The current seed fundraising round offers the resources required to move the firm forward, and with Dr. Rajan at the helm, CHOSEN is poised to become a household name in the Indian cosmetics sector.
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