Hair Originals raises $1.25 Mn in pre-Series A round

Luxury hair extensions and wig brand Hair Originals has secured $1.25 million led by Anicut Capital, Kesh Kala Family Office, JITO Angel Network, Lets Venture, Dexter Angels, Pankaj Chaddah, and Ahana Gupta. Dexter Capital acted as the exclusive advisor for Hair Originals.

Earlier, Hair Originals had raised Rs 60 lacs from three investors at the show Shark Tank. The company has also raised Rs 30 crore early this year in the pre-seed funding round, where it received angel investments from marquee investors.

Hair Originals plans to utilise the raised funds to scale their business operations by 4X, achieve 100 crore ARR by the end of 2024, expand to 25 cities across India with experience centres in 5 major cities and to introduce their direct to consumer services in the US market, Hair Originals said in a press release.

Founded in 2019, the company currently exports its products to over 22 countries, including top luxury salons across the US, Europe, and Africa.

Hair Originals aims to create a brand value that can generate over 70% of its revenue from D2C channels through content and influencer led marketing and enhancing the manufacturing capacity.