Led by Fireside Ventures and Multiply Ventures, the funding will be utilised to ramp up talent acquisition and to fuel its brand expansion initiatives
Bengaluru: Haircare startup Iluvia owned by Renaura Wellness Pvt. Ltd., has secured a series A funding from Fireside Ventures and Multiply Ventures, the company said in a press release on Thursday.
The investment will be utilised to assemble a high-calibre team and to fuel its brand expansion initiatives.
“With this funding, we are empowered to bolster our R&D investments while further expanding our product offerings with innovative and unique solutions for professionals as well as consumers,” said Nishant Gupta and Palash Pandey, co-founders, Renaura Wellness.
“With Series A closed, our aim is to ramp up talent acquisition and expand our team by recruiting skilled professionals who share our passion,” Gupta added.
Presently, Iluvia is present in over 2500 salons spanning across 70 cities in India.
“We believe in Iluvia’s vision and are impressed with their dedication to creating truly transformative and revolutionary products which are highly efficacious and safer for consumers. At Fireside, our quest is on for brands that have an inherent value of goodness ingrained in every aspect of the product and Iluvia is a perfect match,” said Dipanjan Basu, co-founder of Fireside Ventures.
Founded in 2015, Iluvia is a self-care brand that provides products through its own website www.iluviapro.com as well as being accessible on various marketplaces like Nykaa, Amazon and Flipkart.
