Hair extension and wig brand Hair Originals has raised $1.25 million in funding from investors such as Anicut Capital, Kesh Kala Family Office, Lets Venture, Dexter Angels, JITO Angel Fund, Pankaj Chaddah, Ex Co-founder Zomato and Ahana Gautam, Founder, Open Secret. Dexter Capital was the exclusive advisor for the company, the company added.
The company has been registering around four times year-on-year (Y-o-Y) growth with profitability in the last 3 years, Jitendra Sharma, founder and CEO, Hair Originals, said. “With our marketing efforts, we want to educate people about the offerings. We will bring on salon partners across numerous locations so that every customer in India could purchase the products and receive installation for free. We also aim to utilise the funds towards AR/VR and AI capabilities and provide an immersive experience to all the customers,” he added.
Earlier this year, the company raised Rs 30 million in the pre-seed funding round, where it received angel investments from marquee investors. According to the company, its products are exported to luxury salons in 22 countries and have reigned in the business-to-business (B2B) sector by partnering with luxury salons. Additionally, the company stated that HRI, Dexter Angels, and JITO Angel Network participated in this funding round.
“We expect Hair Originals to not just tap the national market but also cater to the growing demand for hair extensions globally,” a senior member of JITO Angel Network, stated. “We are especially drawn to the company’s ethical procurement philosophy and hope for a long and fruitful association with the team,” they added.