HairOriginals, a direct-to-consumer (D2C) brand specializing in hair extensions and wigs, has successfully concluded its pre-Series A funding round, securing a total of $2.75 million (approximately INR 23 crore).
The funding round consisted of two phases. In the initial phase, the startup garnered $1.25 million from investors such as Anicut Capital, Kesh Kala Family Office, Lets Venture, Dexter Angels, JITO Angel Fund, Pankaj Chaddah (Zomato’s ex-cofounder), and Ahana Gautam (Open Secret’s founder) in December of the previous year. In the subsequent phase, it secured an additional $1.5 million from the same group of investors.
The newly acquired funds will be utilized by the startup to expand its presence in the Indian market, establishing advanced experience centers in 25 major cities.
Established in 2019 by Jitendra Sharma, HairOriginals specializes in ethically sourced real human hair, crafting extensions and DIY wigs. The brand provides non-surgical alternatives to enhance hair volume, length, and vibrant appearance, avoiding damage caused by chemical treatments or coloring.
Operating via its experience centers, the brand presently serves customers in 12 Indian cities, including Gurugram, Mumbai, Bengaluru, Chennai, Lucknow, Ahmedabad, and Surat.
Additionally, there are plans to enhance marketing initiatives and expand the network of partner salons across various locations.
“The global market size of the human hair extension and wig market is over $14 Bn. 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,” Sharma said.
He mentioned that the recent expansion of HairOriginals serves as a pivotal step in fortifying its brand presence in the domestic market, with anticipated benefits for its global positioning.
Participating in Shark Tank India, the brand secured funding from Ashneer Grover, Piyush Bansal, and Anupam Mittal. HairOriginals asserts that it has accumulated a total funding of $3 million to date.
The startup competes with companies like Nish Hair and Ind Natural Hair.
Analytical findings indicate that the fashion segment holds the largest share in the D2C ecosystem in India and is projected to reach $43.2 billion by 2025.