Hair Originals, a Bengaluru-based startup known for its hair extension products, has successfully raised $5 million (approximately Rs 43.5 crore) in a Series A funding round. The round was co-led by Anicut Growth Fund and 12 Flags Consumer Holdings, with participation from Lenskart co-founder Peyush Bansal. This funding will help the company expand its services and enhance its product offerings.
Hair Originals: Growth and Expansion Plans
The company plans to use the funds raised to scale its operations and improve its services. A significant part of the investment will be directed towards expanding its on-demand “try-at-home” service to 40 cities across India. This service allows customers to try hair extensions at home before making a purchase. Additionally, Hair Originals will increase its focus on research and development (R&D) to create new and innovative hair solutions.
The startup also intends to open about 30 experience centers over the next year. These centers will allow customers to see the hair extension products in person and get personalized advice. To meet the growing demand, Hair Originals will also boost its manufacturing capabilities and plans to introduce four to five new products every month.
Innovative Product Offerings
Founded in 2019 by IIT graduate Jitendra Sharma and co-founder Piyush Wadhwani, Hair Originals specializes in providing natural hair extensions and do-it-yourself wigs made from ethically sourced human hair. The company’s products offer a non-surgical solution to increase hair volume and length. Customers can enjoy a natural look and experiment with different hairstyles without using chemicals or other harmful processes.
The company is particularly proud of its ability to offer natural-looking extensions that give users the flexibility to change their hairstyles without causing any damage to their natural hair. Hair Originals is also focused on helping customers create bold, colorful looks safely and without resorting to damaging treatments.
Partnerships with Salons
Hair Originals has made significant progress since its Shark Tank India appearance, where it gained funding from Peyush Bansal, Ashneer Grover of BharatPe, and Anupam Mittal. The company has partnered with over 1,400 salons and has experienced a year-on-year business growth. This partnership network has helped increase the brand’s reach and visibility across India.
In addition to its local expansion, Hair Originals has ventured into the international market. It has opened stores at Hyderabad and Coimbatore airports in partnership with Naturals Salon. The brand has also collaborated with Kurves Salon in North America to set up experience centers overseas. This global outreach is part of the company’s plan to increase its brand presence and tap into international markets.
Global Hair Industry
India is a global leader in the export of human hair, with the country exporting more than 85% of raw human hair to international markets. However, much of the value-added market, such as hair extensions and wigs, has been dominated by China. Hair Originals aims to capture a larger share of this market by creating a premium hair extension brand and focusing on the supply chain and manufacturing in India.
Dhruv Kapoor, a partner at Anicut Capital, emphasized that Hair Originals is filling a gap in the market by manufacturing and selling high-quality hair extensions in India, rather than just exporting raw human hair. The company’s growth is also supported by its commitment to providing customers with high-quality products and services through its omni-channel approach.
With the latest funding round, Hair Originals is poised for further growth and expansion. The company’s innovative products and commitment to customer satisfaction have made it a leading name in the hair extension industry. As Hair Originals continues to grow, its focus on expanding both domestic and international markets and introducing new products will be key to its future success.
