Chāmpo receives pre-series A funding of 1.2 million US dollars

UK-based luxury haircare brand Chāmpo has received pre-series A funding of 1.2 million US dollars to accelerate growth.

The female-founded, London-based contemporary hair brand offers high-performance, natural products influenced by the ancient principles of Ayurveda. Its products are made without the use of silicone, sulphates or parabens and are vegan and cruelty-free, meeting the increasing demand for plant-derived, clean beauty products.

Launched just two years ago, Chāmpo has received 1.2 million US dollars in funding from angel investors with a track record of backing businesses to IPO and an investment fund backed by the European Investment Bank.

The award-winning, high-performance haircare brand, which has been focused on the UK direct-to-consumer market via its own website, states it will use the funds to support channel expansion, an international roll-out, as well as new product development.

UK haircare brand Chāmpo announces new funding to fuel expansion plans

Kuldeep Knox, founder and chief executive officer of Chāmpo, said in a statement: “The global hair care market is at a really exciting and pivotal point in time. People are willing to pay more for superior products and expect different things from their shampoo than they did five years ago. They want a product that is intelligent, aesthetically pleasing and uses high-quality natural ingredients.

“The global hair care market is tipped to grow from 75 billion US dollars in 2020 to 113 billion US dollars by 2028, driven by a demand for healthier, shinier and stronger hair. Our widening range of products are well positioned to meet this demand. Our thanks to the European Investment Bank and our angel investors for supporting our growth ambitions.”

Steve Brandon ex-Deloitte partner, Chāmpo and funding circle angel investor, added: “Kuldeep has established a thriving brand in a high growth market segment and having enjoyed previous investment success with consumer brands at a similar stage, I knew this was an opportunity not to be missed. I look forward to supporting Kuldeep through the next stage of business growth and beyond.”

Chāmpo to expand internationally and increase product development

The transaction was advised by PwC Raise | Ventures, who partner with investors seeking quality deal flow and high growth businesses looking for investment to scale.

Edward Reid, PwC Raise | Ventures, said: “We are delighted to have worked with Kuldeep and the team at Chāmpo on securing their pre-Series A funding. The business is on an upward trajectory and we are excited to continue working with the team through their Series A and beyond.”

Chāmpo shampoo and conditioning products are split into three ranges, named after the three Ayurvedic Doshas: Vata, Pitta and Kapha, catering for dry, difficult or damaged hair, fine or thinning hair, and oily or heavy hair. Prices start at 16.50 pounds for a discovery pack.

The brand, which has won numerous accolades and awards including Marie Claire Hair Awards, Indy Best Buy and Women’s Health Beauty Awards, also sells accessories such as scrunchies, shampoo brushes, and conditioning combs.

The Chāmpo range is currently stocked in Harrods and is available direct at champohaircare.com.