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A Melbourne-based hair care brand that focuses on using prebiotics to improve scalp health has secured $4 million in a seed funding round backed by Unilever Ventures and the family office of Harvey Norman (ASX: HVN) founder Gerry Harvey.
Launched in 2022 by Jeremy Hunt, Sarah Hamilton, Tim Brown, Nick Morris and Meagan Pate, STRAAND is a cruelty-free brand that avoids using parabens, sulphates or silicones in its hair care products.
The capital injection follows STRAAND entering a deal with cosmetics giant Sephora to have its products stocked in more than 70 stores across Australia, the UK and South East Asia by early next year.
The rapidly growing brand has also soft launched in the US market, and is currently stocked with retailers Urban Outfitters, Anthropologie and Amazon.
“We are excited for this next phase of STRAAND’s growth,” Hamilton said.
“This will help create further global pathways including back home in Australia. The strong support of partners like Unilever Ventures and Gerry who continue to believe in our values is what has and will be key to the ongoing success of our brand vision.”
STRAAND’s range includes four prebiotic products: a serum, shampoo, conditioner, and scrub, along with a range of accessories like an exfoliating scalp brush, microfibre hair towel and combs.
The brand’s products were developed as a way to offer consumers an alternative to chemical mass-market products which have typically been available to treat scalp concerns such as dandruff.
According to San Francisco-based market research company Grand View Research, the hair care market will be valued at an estimated US$102 billion (AUD$154 billion) by 2025.
“Dandruff and broader scalp concerns are a significant and much maligned condition globally,” Unilever Ventures partner Rachel Harris said.
“We have been working with the STRAAND team now for over 12 months and are excited at the continued prospect of growth.”
READ MORE: Hair care brand Growth Bomb lands national distribution deal with Woolworths
While Unilever Ventures is a returning investor, having previously injected $2 million in a pre-seed raise, this is the first time the Harvey Family Office has invested capital into a brand that falls under consumer goods.
STRAAND plans to launch a pipeline of new products globally in 2024.
“Over the past twelve months I’ve had many many brands pitch to me for investment. My interest in STRAAND was based on their progression within their category and to support their upcoming multi-market contracts,” Harvey Family Office founder Gerry Harvey said.
“I’m excited to support the STRAAND team with their continued growth globally but also within the Australian market.”
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