Iluvia, a haircare brand under Renaura Wellness Pvt Ltd has secured an undisclosed amount in series A funding from Fireside Ventures and Multiply Ventures.
The company will utilise the funds in talent acquisition, bolstering research & development, and brand marketing.
With this funding, the brand also plans robust expansion to make deeper inroads in the professional haircare market in the country.
Commenting on the funding, Nishant Gupta and Palash Pandey, co-founders of Renaura Wellness in a statement said, “This investment validates our vision and fuels our mission to revolutionize the professional haircare industry. With this funding, we are empowered to bolster our R&D investments while further expanding our product offerings with innovative and unique solutions for professionals as well as consumers.”
Dipanjan Basu, co-founder at Fireside Ventures added, “Our investment in Iluvia is an endorsement of our commitment to building iconic and innovative consumer brands. The brand’s reliance on science and their meticulous R&D process is why they are seen as being great innovators in personal care.”
Iluvia retails from its dedicated e-commerce store and has established its presence in over 2500 salons spanning across 70 cities in India.
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