Haircare brand Manetain gets Rs 75 crore funding injection
Manetain has secured a Rs 75 crore investment in exchange for 10% equity in the business from Boat founder Aman Gupta. The curly haircare brand secured the investment on episode 24 of the second season of Shark Tank India.
“Nearly 60% of Indians have curly to wavy hair, but lack of information and product knowledge,” said Manetain’s co-founder Hinshara Habeeb, ET Retail reported. “Our goal is to reach out to the global curly hair community and offer a complete range of products to support their curly hair care regime.”
Yuba and Hinshara Habeeb launched Manetain in 2018 as a startup retailing hair accessories, shampoos, and conditioners. The business’ founders went on television show Shark Tank India to pitch their business for funding in order to secure investment to continue to expand its product range and distribution networks.
At present, Manetain retails over 1,500 stock keeping units and plans to expand its offering for a comprehensive curly haircare solution. The brand also aims to use its investment to amp up its marketing activities to increase direct traffic to its e-commerce store.
As well as its selection of haircare products, Manetain also retails a range of accessories including hair buffs and scrunchies. These are also designed to help preserve and nourish curls, the brand announced on Facebook.
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