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The funding round was co-led by Anicut Growth Fund and 12 Flags Consumer Holdings, and also saw participation from Lenskart cofounder and CEO Peyush Bansal
The startup plans to utilise the fresh proceeds to expand its on-demand “try-at-home” services to 40 cities and enhance R&D capabilities
Founded in 2019, HairOriginals deals in extensions and do-it-yourself wigs made from “ethically-acquired” real human hair
D2C hair extensions and wig brand HairOriginals has raised $5 Mn (INR 43.5 Cr) in its Series A funding round, co-led by Anicut Growth Fund and 12 Flags Consumer Holdings. The round also saw participation from Lenskart cofounder and CEO Peyush Bansal.
The startup plans to utilise the fresh proceeds to expand its on-demand “try-at-home” services to 40 cities and enhance research and development (R&D) capabilities. A chunk of the capital will also be deployed to launch 25–30 company-owned experience centres in the next 12 months.
Founded in 2019 by Jitendra Sharma and Piyush Wadhwani, HairOriginals sells hair extensions and do-it-yourself wigs made from “ethically-acquired” real human hair.
The D2C brand closed its pre-Series A funding round at $2.75 Mn in December 2023, which saw participation from Anicut Capital, Kesh Kala Family Office, Lets Venture, among others. Including the latest round, it has raised a total funding of $7.2 Mn in funding to date.
“… 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,” 12 Flags Consumer Holdings founder Rakesh Kapoor said on the investment.
HarOriginals featured on the first season of TV show Shark Tank India and bagged funding from Ashneer Grover, Peyush Bansal and Anupam Mittal.
The D2C brand claims to have so far partnered with 1,400+ salons and established an undisclosed number of experience centres in India and North America (in partnership with Kurves salon chain). It competes with the likes of Nish Hair and Euphoria.
The fundraise comes at a time when increasing internet penetration and smartphone usage in the country have been fuelling the rise of D2C brands in the country. While beauty and personal care brand Mamaearth went on to list on the bourses, eyewear giant Lenskart is gearing for an IPO. Owing to this, the space continues to attract healthy investor interest.
Just days ago, Inc42 reported that D2C startup P-TAL was in advanced discussions to raise INR 30 Cr in its pre-Series A round from new and existing backers. Earlier this month, D2C skincare brand Deconstruct bagged INR 65 Cr from French cosmetics giant L’Oréal’s VC fund BOLD, V3 Ventures, and DSG Consumer Partners.
As per Inc42 data, India’s D2C space is projected to become a $300 Bn market opportunity by 2030.
