AI Backed Startup Hair Originals Raises ₹10.25 Crore From 7 Investors
Artificial intelligence based hair & wig startup Hair Originals has raised $1.25 million in pre-Series A round. The startup provides a D2C platform for hair solutions.
Hair Originals, a direct-to-consumer platform established in 2019 by Jitendra Sharma, offers DIY wig kits and hair extensions produced from actual human hair that has been obtained responsibly.
It offers a non-surgical way to add length, volume, and a colorful appearance to hair without harming it with chemicals or dyes.
With the help of Anicut Capital, Kesh Kala Family Office, JITO Angel Network, Lets Venture, Dexter Angels, Pankaj Chaddah (former co-founder of Zomato), and Ahana Gupta, luxury hair extension and wig firm Hair Originals has raised $1.25 million. For Hair Originals, Dexter Capital functioned as the sole advisor.
The Shark Tank television programme has previously helped Hair Originals acquire Rs 60 lacs from three investors.
The business also garnered angel investments from well-known investors early this year, helping it to raise Rs 30 crore in the pre-seed capital round.
In a press release, Hair Originals stated that they intend to use the funds raised to scale their business operations by 4X, reach 100 crore ARR by the end of 2024, diversify to 25 cities all over India with experience centers in 5 major cities, and launch their direct to consumer solutions in the US market.
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Since its founding in 2019, the business has expanded its exports to over 22 nations, including prestigious salons in the US, Europe, and Africa.
Utilizing content and influencer led marketing, as well as increasing the manufacturing capacity, Hair Originals hopes to build a brand value that can earn more than 70% of its income from direct-to-consumer (D2C) channels.
According to Jitendra Sharma, the company’s founder, “We are bringing on a lot of salon partners across different locations so that every customer in India might buy the products and receive installation for free. By the end of 2024, we want to have generated 100 crore ARR with the help of our investors.”
