Chāmpo receives pre-series A funding to accelerate growth
Contemporary hair care brand Chāmpo has secured funding of $1.2 million from angel investors with a track record of backing businesses to IPO.
Having historically focused on the UK direct to consumer market, the London based company will use the funds to support channel expansion, international roll out and new product development.
Chāmpo offers a range of natural products that have been influenced by the ancient principles of Ayurveda. Made without the use of silicone, sulphates or parabens, the products are vegan and cruelty free as the company looks to meet increased demand for plant-derived, clean beauty products.
The brand has won numerous accolades and awards including Marie Claire Hair Awards, Indy Best Buy and Women’s Health Beauty Awards. The range is currently stocked in Harrods and available direct at www.champohaircare.com.
Kuldeep Knox founder and chief executive of Chāmpo, said: “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 which is intelligent, aesthetically pleasing and uses high quality natural ingredients.
“The global hair care market is tipped to grow from $75 billion in 2020 to $113 billion 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.”
