[Funding Alert] Shark Tank-Backed HairOriginals Bags $2.75 mn to Accelerate Growth in India
[Funding Alert] Shark Tank-Backed HairOriginals Bags $2.75 mn to Accelerate Growth in India

HairOriginals, India's first D2C brand for 100 percent natural hair extensions and wigs, is a Shark Tank India Season 1 startup backed by Ashneer Grover, Piyush Bansal, and Anupam Mittal. They have expanded their geographical presence from three to 12 Indian cities in 2023. With this strategic expansion, the company now runs experience centers in Gurgaon, Mumbai, Bangalore, Chennai, Lucknow, Ahmedabad, Surat, Pune, Hyderabad, Chandigarh, and Kolkata. The company plans to use its recent Pre Series A round of $2.75 million to scale its business presence in India with new advanced experience centers in 25 top cities by 2024. HairOriginals is looking to leverage its network of certified stylists, natural product offerings, and free trial installation services to emerge as the market leader in the natural hair extension and wig segment.

With popular service partners like Geetanjali in the North and Naturals in the South, HairOriginals has clear plans to tap into the fastest-growing global natural hair extension market. The company already delivers finished products, such as 100% human hair extensions, wigs, and toppers, in over 30 countries.

Jitendra Sharma, Founder and CEO of the company shared, “The global market size of the human hair extension and wig market is over $14 billion. Despite India being the world’s only ethical source and a major provider, most manufacturing techniques are concentrated in China. This is why we have made it our mission to make natural and top-quality hair products in India for the world. Our latest expansion is a stepping stone for strengthening our presence in the domestic market for global positioning. I am keen to see how we can leverage this strategic move and the rising demand for Made in India products in our favor.

HairOriginals has raised $3 million since its inception in 2019 and has plans to use its recent investments to expand its presence in the domestic market and become the only organized natural hair extension and wig brand in the segment. The brand has been using its funds strategically to enhance its AR/VR capabilities to enhance customers’ shopping experience. It plans to strengthen its marketing efforts and increase its partner salon network across multiple locations.

The D2C brand manufactures its products, which gives it an edge over its contemporaries. HairOriginals aims to capture the global market by leveraging its manufacturing expertise and ethical sourcing advantage. It is well-positioned to restructure and organize this category through innovation.

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