Retail in Asia

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Australian hair care brand Straand inks AUD 2 million in funds

Australian natural hair care brand Straand has inked AUD 2 million (USD 1.42 million) in pre-seed funding via an investment deal with Unilever Ventures, the investment arm of consumer goods giant, Unilever, to expand into the U.S., UK, Europe and China.

SEE ALSO: Unilever invests in Indonesia’s Esqa

Founded in July 2022, Melbourne-based Straand is a cruelty free, vegan, natural and hair care brand that offers hair and scalp products to combat scalp dryness, flaking, product build-up, thinning and even hair loss using prebiotics.

Since its inception, Straand has launched four prebiotic scalp balancing products, including The Crown Cleanse, The Crown Fix Serum, The Head Doctor Conditioning Treatment and The Miracle Worker Scrub, along with a premium range of accessories.

In October, the brand launched on Australian online beauty retailer, Adore Beauty, as part of a strategic partnership. It is now readying to enter the U.S. market, both through its own direct channels and Amazon.

“The investment will help pave the way for the brand’s expansion into the US, UK, Europe and China. Dandruff and broader scalp concerns are a significant and much maligned condition globally. There has been limited innovation in the scalp health category for many years and it is ripe for disruption. Straand stood out with its microbiome-focused formulations, bold branding, youthful appeal and affordable positioning,” said Rachel Harris, Partner at Unilever Ventures.

Straand’s co-founders include Jeremy Hunt, the brand’s CEO; Sarah Hamilton, the co-founder of Australian skincare brand Sand & Sky; Tim Brown, a CBEC specialist with a focus on strategy and execution for China; Nick Morris, who has 25 years of experience in personal care; and Meagan Pate, a brand strategist, who is also the brand’s General Manager.

In its next phase, Straand it is about to enter the U.S. market and Southeast Asia and looking to launch in Europe around April.

Revenue in the hair care segment in Asia will amount to USD 33.45 billion in 2023, according to Statista.