Chāmpo Haircare has received $1.2 million in pre-series A funding from angel investors and an investment fund backed by the European Investment Bank.
Chāmpo will use the funds to support channel expansion, international roll out and new product development.
The London-based contemporary hair care brand offers naturally derived products influenced by the ancient principles of Ayurveda.
Previously: Report: Thirteen Lune Raises $3 Million in Funding Round
The brand has won numerous accolades and awards including Marie Claire Hair Awards, Indy Best Buy and Women’s Health Beauty Awards.
Kuldeep Knox, founder and CEO of Chāmpo, said: "The global hair care market is at a really exciting point in time. People are willing to pay more for superior products, however they expect different things from their shampoo than they did five years ago. They want a product which is intelligent, aesthetically pleasing and uses high quality natural ingredients. The global hair care market is tipped to grow from $75 billion in 2020 to $113 billion by 2028, driven by a demand for healthier, shinier and stronger hair. Our widening range of products are well positioned to meet this demand. Our thanks to the European Investment Bank and our angel investors for supporting our growth ambitions."
Steve Brandon, funding circle angel investor, said: "Kuldeep has established a thriving brand in a high growth market segment and having enjoyed previous investment success with consumer brands at a similar stage, I knew this was an opportunity not to be missed. I look forward to supporting Kuldeep through the next stage of business growth and beyond.”
