Australian haircare brand Straand secures new funding

Australian scalp care brand Straand, which launched in the UK in November, has secured 4 million Australian dollars in funding to support further international expansion.

The funding was led by Unilever Ventures, the venture capital arm of the personal care and cosmetics group, which previously invested in a pre-seed round in 2022. They were joined by the Harvey Family Office, which is making its first investment within the self-care and consumer goods space.

Launched in Australia in 2022, Straand is Australia’s first microbiome-focussed scalp care brand rooted in the ethos that “healthy hair starts with a healthy scalp”. It offers a range of affordable cruelty-free, vegan, natural and Australian-made haircare products that harness the power of prebiotics to keep sebum (the oily secretions of the skin) in check.

In just 12 months, Straand has proven its science-led, functional line of products is at the forefront of the market, estimated to be valued at 102 billion US dollars by 2025.

The brand’s range includes four key prebiotic scalp balancing products, including a crown cleanse microbiome shampoo, a scalp serum, a boost condition, and a scalp scrub, as well as a range of accessories.

Straand raises 4 million Australian dollars from Unilever Ventures and the Harvey Family Office

The new investment will see new products launching in 2024, added Straand in the press release, as well as globally, after signing a multi-regional deal with Sephora to stock the brand in over 70 stores by early 2024 across Australia, The UK and Southeast Asia. The brand has also soft-launched in the US market with retail partners Urban Outfitters, Anthropologie and Amazon.

Commenting on the investment, Sarah Hamilton, co-founder at Straand, said: “We are excited for this next phase of Straand’s growth. 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.”

Gerry Harvey, founder of Harvey Norman Family Office, added: “My interest in Straand was based on their progression within their category and to support their upcoming multi-market contracts.

"I’m excited to support the Straand team with their continued growth globally but also within the Australian market.”