Hair Extension Brand Hair Originals Raises $1.25 Million In Funding
Hair Originals, a homegrown luxury hair care brand, has raised $1.25 million from Anicut Capital, Kesh Kala Family Office, JITO Angel Network (JAN), Dexter Angels, Lets Venture, Pankaj Chaddah (Ex Co-founder Zomato) and Ahana Gautam (Founder, Open Secret).
As per the startup, the raised funds will be used to scale the business operations by 4 times and achieve 100 crore ARR by the end of 2024.
The startup will also use the funds to expand to 25 cities PAN India with experience centres in 5 major cities and to introduce D2C services in the US market.
Hair Originals | 100% Natural Hair Extensions
Founded by Jitendra Sharma in 2019, Hair Originals is a D2C platform that deals in hair extensions and do-it-yourself wigs made from ethically acquired real human hair.
Featured & Funded by Shark Tank India, the D2C brand provides a non-surgical solution to provide hair volume, hair length, and colourful hair look without damaging hair with the chemical of colours.
Speaking about the development, Jitendra Sharma, Founder of Hair Originals, said,
“It is indeed a very important milestone for us to have JITO, Kesh Kala, and all our new investors on board. We also take this opportunity to thank the constant trust that our existing investors have shown in us. Their faith empowers us to strengthen our resolve to disrupt the hair extensions market globally.”
Hair Originals currently exports its products to over 22 countries, including top luxury salons across Europe, Africa and the US.
The D2C brand aims to create a brand value that can generate over 70% of its revenue from D2C Channels through aggressive content and influencer-led marketing and enhancing the manufacturing capacity.
Commenting on the development, Pooja Mehta, Chief Investment Officer, JITO Angel Network, said,
“We are proud to add this unique and ethical hair solutions provider to our portfolio. We expect Hair Originals to not just tap the national market but cater to the growing demand for hair extensions globally. We are especially drawn to the company’s ethical procurement philosophy and hope for a long and fruitful association.”
Earlier in 2022, the D2C brand raised Rs 30 million in the pre-Seed funding round, where it received angel investments from marquee investors.
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