Traya, a manufacturer of hair care products, secured Rs 75 crore in funding from Mumbai-based private equity fund Xponentia Capital.
Specializing in products addressing hair loss and related concerns, Traya has raised approximately $3 million from investors such as Fireside Ventures, Stride Ventures, Kae Capital, and Whiteboard Capital.
“This funding enables us to further our mission of providing personalized, effective solutions to address the unique hair related needs of each individual. We are dedicated to helping people take control of hair loss and helping them feel confident again,” Saloni Anand, co-founder of Traya said in a statement.
The company did not provide detailed information about how it plans to use the funds. However, it stated that it boasts over 10 lakh customers who use its products.
“Traya has developed expertise in understanding hair loss and has demonstrated success in solving it through innovative combinations of Ayurveda, Allopathy, and Nutrition. Our investment in Traya fits Xponentia’s thesis to back fast growing and profitable digitally native consumer brands,” said Rahul Bahri, Director at Xponentia Capital.
Several consumer brands, particularly in their initial phases, have secured funding in recent months. For instance, skincare company Foxtale Consumer raised approximately $14 million last month. Similarly, beauty products and content company Good Glamm Group raised around $30 million through a rights issue, maintaining a flat valuation of $1.2 billion.
