The fresh capital will be utilised to expand the platform’s try-at-home services, establish 25-30 experience centres in the next 12 months and bolster R&D capabilities
Mumbai: Hair extension brand HairOriginals on Wednesday said it has raised USD 5 million in a Series A funding round co-led by 12 Flags Consumer Holdings and Anicut Growth Fund, along with participation from Peyush Bansal.
The fresh capital will be utilised to expand the platform’s try-at-home services by bringing on-demand hair extension home service to 40 cities, establish 25-30 company-owned experience centres in the next 12 months and bolster research & development (R&D) capabilities by creating products for a global audience, HairOrginals said.
Founded by IIT graduate Jitendra Sharma and Piyush Wadhwani, the platform offers premium, ethically sourced, 100 per cent natural hair extensions.
The latest round of funding brings its total raised capital to $7.2 million, including previously raised $1.5 million in seed funding from Anicut Capital and other investors, it said.
“India is the largest and the only ethical source of human hair in the world. Our vision is to leverage sourcing advantage and to own a complete value chain by manufacturing top quality finished products from India to the world,” Sharma said.
