HairOriginals, a direct-to-consumer (D2C) provider of wigs and hair extensions, has secured pre-Series A investment round, which was valued at $2.75 million (about INR 23 Cr).
There were two tranches in the round. Together with Pankaj Chaddah, the former cofounder of Zomato, and Ahana Gautam, the creator of Open Secret, the business raised $1.25 million in its first leg from Anicut Capital, Kesh Kala Family Office, Lets Venture, Dexter Angels, and JITO Angel Fund in December of the previous year. The same group of investors provided $1.5 million for the second leg, as reported by Inc42.
With the recent capital, the startup plans to expand its presence in India by opening new, cutting-edge experience centres in 25 of the country’s most desirable cities.
“The global market size of the human hair extension and wig market is over $14 Bn. Despite India being the world’s only ethical source and a major provider, most manufacturing techniques are concentrated in China. This is why we have made it our mission to make natural and top-quality hair products in India for the world,” Jitendra Sharma, founder of HairOriginals said.
The brand presently serves consumers in 12 Indian cities, including Gurugram, Mumbai, Bengaluru, Chennai, Lucknow, Ahmedabad, and Surat, via its experience facilities.
HairOriginals prioritises maintaining a customer-centric strategy, a well-defined supply chain and manufacturing procedures, end-to-end quality control, and professional dedication. HairOriginals wants to provide excellent Indian Remy hair (raw hair) items to customers worldwide as a one-stop shop.