3 April 2024 – Mumbai-based direct-to-consumer (D2C) health and wellness brand Traya has secured a funding of Rs 75 crore from Xponentia Capital, marking its first fundraising in two years. The capital injection is poised to accelerate Traya’s mission of democratizing its clinically proven hair growth treatment.
Founded in 2019, Traya specializes in combatting hair loss by addressing its root causes through personalized solutions and expert guidance from a team of hair coaches and physicians. With a user base exceeding 10 lakh customers, Traya utilizes its proprietary web and mobile apps along with third-party marketplaces like Flipkart and Amazon for widespread distribution.
The latest funding round from Xponentia Capital adds to Traya’s total capital raised, which now stands at Rs 20.75 crore, including previous investments from Fireside Ventures and other backers. Xponentia Capital, known for its strategic investments in diverse sectors, recently concluded its Xponentia Opportunities Fund – II at Rs 1,095 crore, affirming its commitment to supporting promising ventures.
Traya’s robust financial performance in FY23, with operating scale surging to Rs 61.67 crore from Rs 6.98 crore in FY22, underscores its potential for growth. However, the firm reported losses amounting to Rs 27.83 crore during the same period, indicating the need for strategic investments to fuel expansion and innovation.
