Onesto Labs, which has been renamed Innovist, has raised USD 3.5 million in funding. Existing investors Accel Partners and 72 Ventures led the Pre-Series A-fundraising round.
Sauce (Manu Chandra) and Arihant Patni (Patni Family Office) also participated in the round, as did new investors Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Alok Mittal, Kunal Shah (Cred), and Shripad Nadkarni (Maverix Platforms & Fingerlix).
The new funds will be utilized to enhance the company’s R&D skills, marketing, hiring, and distribution networks, according to the official release. Onesto was rebranded into Innovist because it’s an innovation-led, scientific platform and the company name should reflect that – Rohit Chawla, Founder and CEO of Innovist.
So far, the journey has been fantastic. We appreciate our investors’ renewed faith in us and their unwavering commitment to our mission. Their unwavering support has aided in laying a solid basis for our success. We are certain that with the extra funding, we will be able to significantly improve our infrastructure and expand.”
Onesto Labs was also a part of Accel’s first Atoms cohort, which was created last year to help early-stage companies.