Haircare Startup iluvia Gets Series A Funding from Fireside Ventures and Multiply Ventures The Bengaluru-based Startup iluvia plans to use the fresh funding to bolster its R&D investments while further expanding its product offerings with innovative and unique solutions for professionals as well as consumers.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Bengaluru-based professional haircare startup, iluvia, has raised a Series A funding round from Fireside Ventures and Multiply Ventures.
Nishant Gupta and Palash Pandey, Co-founders, Renaura Wellness Pvt Ltd, said, "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. With Series A closed, our aim is to ramp up talent acquisition and expand our team by recruiting skilled professionals who share our passion."
Founded in 2015 by Nishant Gupta and Palash Pandey, iluvia is a self-care startup under the parent company Renaura Wellness Pvt Ltd. It offers a variety of scientifically created hair care products to address various hair issues. The startup claims that it is an eco-conscious brand that is available at marketplaces such as Nykaa, Amazon, Flipkart, to name a few, and offline at 2500+ salons across 70+ cities in India.
"The brand's reliance on science and their meticulous R&D process is why they are seen as being great innovators in personal care. At Fireside, our quest is on for brands that have an inherent value of goodness ingrained in every aspect of the product and iluvia is a perfect match," said Dipanjan Basu, Co-founder and Partner, Fireside Ventures.
Sanjay Ramakrishnan, Founder and General Partner at Multiply Ventures, added, "Our thesis at Multiply Ventures has been to partner with founders who solve a large niche with research-focused, science-backed, safe products with clear deliverables on the outcome. iluvia checks all the boxes with its very focused product line-up. We started the Journey with iluvia in the seed round and are very excited that Fireside Ventures has joined us in this journey by investing in Series A alongside us."
