Ayurvedic hair care brand Chāmpo secures € 1 million pre-series A funding

Chāmpo has received pre-Series A funding of € 1 million (US $ 1.2 million) from angel investors and an investment fund backed by the European Investment Bank. The plan was to use the funds to support channel expansion at the retail level – the brand was currently only stored at Harrods in the UK and on its D2C website – as well as international expansion. and new product development (NPD).

Founded in 2019, the luxury British beauty brand offered a range of Ayurvedic-based active herbal hair care products, inspired by its founder’s Indian heritage. The line included moisturizing, volumizing and balancing shampoos and conditioners and “weightless” hair oil.

“Smart and aesthetic” hair care

Kuldeep Knox, Founder and CEO of Chāmpo, said it was great to have investors on board who support the brand’s growth ambitions, especially given the “Exciting and essential”It was time for the global hair care market.

“People are willing to pay more for higher quality products and expect different things from their shampoo than they did five years ago. They want a smart, aesthetic product that uses high quality natural ingredients ”,Knox said.

Kuldeep Knox, founder of Chāmpo Haircare

And the expansion of Champo’s product line, she said, was “Well placed to meet this demand”.

Knox previously told CosmeticsDesign-Europe that the brand brought “Innovation to a segment of the beauty market that traditionally lacked creativity”.

With funding advised by PwC Raise Ventures, Company Director Edward Reid said: “We are delighted to have worked with Kuldeep and the team at Chāmpo to secure their pre-series A funding. The business is on an upward trajectory and we are delighted to continue to work with the team throughout. their Series A and beyond. ”

Booming independent beauty financing

Over the past few months, several other independent beauty brands and biotech startups had secured significant funding to help with expansion and future product development efforts.

In October, recycled coffee startup Kaffe Bueno received a grant from the European Innovation Council (EIC) worth € 2.5 million that it planned to use to build a coffee biorefinery and develop its range of active ingredients. Founded in 2016, the Denmark-based biotech company has made several recycled active ingredients, including a lipid-rich coffee oil (Kaffoil).

That same month, biotech startup Sequential Skin raised $ 1.4 million in funding it planned to use to accelerate the future of skin health, according to its CEO. The UK and Singapore-based company had developed at-home patch testing kits that used gene sequencing technology to assess overall skin health in real time, taking into account genetic predisposition and skin condition. current state of the skin microbiome. The last seed cycle would be used to globally extend this diagnostic fix.

Earlier this year, in March 2021, India-based organic beauty brand Juicy Chemistry also secured € 5.5 million ($ 6.3 million) in Series A funding which it said it was using for expand into the United States and Europe, as well as deepen its national presence. . The brand offered a line of organic and waterless personal care products that were Ecocert certified, including cleansers, serums, sunscreens and shampoos, all available in Australia, South Africa and France.

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