Traya, a direct-to-consumer (D2C) health and wellness brand, has secured INR 75 crore from Xponentia Capital. After a gap of 2 years, the Mumbai-based firm received investments. According to Traya, it will use the investment proceeds to fulfil its mission of taking its clinically proven hair growth treatment to the masses.
Traya, founded in 2019, focuses on identifying the underlying causes that contribute to hair loss problems. It has a team of expert hair coaches and physicians to offer personalised hair solutions and guidance.
Besides having a user base of over 10 lakh customers and its own web and mobile apps, the company utilises popular marketplaces such as Amazon and Flipkart for distribution.
According to the latest startup industry news sourced through TheKredible, a startup data intelligence platform, Traya has received total investments worth INR 20.75 crore so far. The amount includes $2 million from Fireside Ventures and other investors.
Xponentia, last year, made an announcement of its final closure of Xponentia Opportunities Fund - II at INR 1,095 crore. It has invested in some prominent companies including The Souled Store, Easy Home Finance, Zype Fintech, Auxilo Finserve, R5Rabbit Baby Products, etc.
Traya garnered significant investments owing to its impressive financial performance in FY23. Its operational scale surged 8.2X to INR 61.67 crore in FY23 from 6.98 crore in FY22. The company, however, had to bear losses amounting to INR 27.83 crore during the same period.
What Does YFS Have to Say on Traya's Fresh Investment?
Traya has come a long way in terms of raising its scale by 8 times over a year, reinforcing confidence among investors about its business model. This translated into a fresh round of investments worth INR 75 crore. Your First Startup (YFS) reckons the fresh round of investments will help Traya strengthen its presence in hair loss consultancy services.