Henkel Ventures Invests in Black-Owned Beauty Brand Ruka Hair
Ruka Hair has raised $4.5 million in a new funding round led by Henkel Ventures, according to The Business of Beauty. The round also included participation from Big Issue Invest and Backed VC, as well as investment from Olympian Dina Asher Smith.
Ruka Hair’s new funding
The new capital will help support the brand’s research and development into Ruka’s alternative hair extensions. It will also help Ruka expand into the US market, where the brand is expected to join a major retailer by the end of the year.
Ruka’s co-founder and chief executive, Tendai Moyo, told The Business of Beauty that raising capital for the brand was difficult as Ruka sits across multiple sectors. Beauty investors understand consumer and retail distribution, and biotech investors understand material science. It’s very difficult to find investors who sit at that intersection,” she said.
About Ruka Hair
Ruka Hair is a D2C hair extension brand that offers personalized hair products for Black women, and its manufacturing process is chemical-free. It was co-founded in 2020 by Tendai Moyo and Ugo Agbai.
It has the backing of angel investors, including Ian Hogarth, founder of Songkick, Tom Adeyoola, founder of MeTail and cofounder of Extend Ventures, and Nicole Crentsil, founder of Black Girl Fest. In May 2021, Ruka Hair secured $1.6m in early-stage VC funding.
Image: Ruka Hair
