HairOriginals, a hair extensions brand, has raised $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 funds raised will be used to expand its 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 R&D capabilities by creating innovative, best-in-class products for a global audience.
The funding round brings its total funding to $7.2 million to date. The company previously raised $1.5 million in seed funding from Anicut Capital and other investors.
Jitendra Sharma, Founder, HairOriginals, 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 complete value chain by manufacturing top-quality finished products from India to the World. By doing this, we will ensure complete global disruption in this category by offering highest quality products at best price points globally.”
Rakesh Kapoor, Ex-Reckitt Benckiser Global CEO and Founder of 12 Flags Consumer Holdings said, “We are inspired to invest in businesses that truly make a difference. Hair Originals offers a range of hair extension products, providing instant transformations that not only enhance appearance but also boost confidence, leaving people excited about their new look. Jitendra and his team are passionately committed to positioning India as the world’s leading hub for human hair products, and we are excited to be part of this visionary journey.”
Dhruv Kapoor, Partner, Anicut Capital said, “India has been the global leader in export of human hair. While India exports >85% of raw human hair, China captures majority of the value-added market by selling to global markets in the form of hair extensions and wigs. HairOriginals is capturing value in India by building an omnichannel brand of premium hair extension products through supply chain and manufacturing focus. We resonate with Jitendra’s singular focus of building a high-quality hair Extensions brand from India for the World and are excited to partner with him on this journey.”
Founded in 2019 by Jitendra Sharma & Piyush Wadhwani, HairOriginals offers premium, ethically sourced, 100% natural hair extensions.
HairOriginals claims to grow with an impressive 3X year-on-year and a target of growing multi-fold in the next 24 months. HairOriginals claims to have partnered with 1400+ salons and has set up experience centers in India and North America.
As part of its expansion, it has opened stores at Hyderabad and Coimbatore airports in collaboration with salon chain Naturals. To grow its global presence, it has also partnered with the Kurves salon chain in North America to establish experience centres.
The company have also been featured on the first season of Shark Tank India and raised funding from Ashneer Grover, Peyush Bansal and Anupam Mittal.
