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Traya secures Rs 75 Cr from Xponentia Capital

EntrackrEntrackr · 1y ago
Traya secures Rs 75 Cr from Xponentia Capital
Medial

Direct-to-consumer (D2C) health and wellness brand Traya has raised Rs 75 crore from Xponentia Capital. The fresh round has come for the Mumbai-based company after a hiatus of 2 years. The proceeds will be used to mark a pivotal moment toward its mission to take its clinically proven hair growth treatment to the masses. The company said in a press release. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. The company also claims to have a user base of over 10 lakh customers. Besides its own web and mobile apps, the firm leverages third-party marketplaces such as Fl; Flipkart and Amazon for distribution. As per startup data intelligence platform TheKredible, Traya has raised a total of Rs 20.75 crore to date including its $2 million from Fireside Ventures and other backers. Last year, Xponentia announced its final closure of Xponentia Opportunities Fund – II at Rs 1,095 crore. Its notable investments include Auxilo Finserve, The Souled Store, Zype Fintech, R4Rabbit Baby Products, and Easy Home Finance among others. The significant funding came on the back of its impressive financial performance in the last fiscal year. The company’s operating scale blew 8.2X to Rs 61.67 crore in FY23 from Rs 6.98 crore in FY22. However, the firm’s losses stood at Rs 27.83 crore in the same period.

Traya returns to losses in FY25 as marketing and employee costs surge

EntrackrEntrackr · 16d ago
Traya returns to losses in FY25 as marketing and employee costs surge
Medial

Direct-to-consumer (D2C) health and wellness brand Traya posted a strong 43.2% year-on-year growth in FY25. However, the company slipped back into losses during the year as rising expenses offset the momentum it had built in FY24. Traya’s revenue from operations increased to Rs 338 crore in FY25 from Rs 236 crore in FY24, according to its annual financial statements sourced from the Registrar of Companies (RoC). Founded in 2019, Traya focuses on addressing hair loss by identifying its root causes rather than offering surface-level solutions. The company provides personalised hair treatment plans, supported by consultations with hair coaches and licensed physicians. Income from ayurvedic oral and topical products, cosmetics, dietary supplements, and medicines remained the primary revenue driver, accounting for 99.6% of its total operating income. The remaining revenue came from shipping charges, doctor consultations, and hair transplant services. On the cost side, Traya significantly ramped up its spending in FY25. Its sales and marketing expenses rose 40% year-on-year to Rs 138 crore, reflecting continued investments in customer acquisition. Employee benefit expenses saw a sharper spike, which increased by 130% to Rs 83 crore during the fiscal year. The cost of materials consumed stood at Rs 83 crore in FY25. Additionally, higher freight, legal, rent, and other operational overheads pushed the company’s total expenditure up by 60% to Rs 366 crore in FY25, compared to Rs 229 crore in FY24. With expenses growing faster than revenue, primarily due to elevated marketing spends and a surge in employee costs, Traya reported a loss of Rs 23 crore in FY25. This marks a reversal from the Rs 8.6 crore profit the company had posted in FY24. According to Entrackr’s estimates, its financial efficiency metrics also weakened during the year. Its return on capital employed (ROCE) declined to -20.47%, while EBITDA margins stood at -6.18%. At the unit economics level, the company spent Rs 1.08 to earn every rupee of operating revenue in FY25. As per the startup data intelligence platform TheKredible, Traya has raised approximately Rs 96 crore in funding to date. This includes a Rs 75 crore infusion from Xponentia Capital in April this year. The company’s investor roster features prominent names such as Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital. Hair loss treatments have existed for as long as hair loss itself, with a history that ranges from the spectacular to the ludicrous, and with barely any guaranteeing results. Social media has allowed the segment to bloom like never before, as sufferers feel the need to save what hair remains or recover lost ground. While non-invasive methods like those offered by Traya are one option, the rapid rise of hair transplants leads one to wonder how effective other alternatives truly are, especially since most people opting for transplants have usually tried multiple methods to avoid surgery. A five-month period to show “results” also works well for firms like Traya, as it helps lock in users. With the pool of sufferers expanding due to stress, pollution, and other factors, selling into this market of insecurity and aspiration appears to offer a long runway for companies. Traya, of course, will know that as more users complete the five-month course and beyond, word of mouth around its effectiveness will spread. The question is whether it will pivot to something new by then?

Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 1y ago
Traya posts 236 Cr revenue in FY24; turns profitable
Medial

Traya recorded over threefold year-on-year growth, with its revenue crossing Rs 230 crore during the previous fiscal year ending March 2024. Moreover, with this pace, the Mumbai-based company became profitable in the same period. Traya’s revenue from operations surged 3.8X to Rs 236 crore in FY24 from Rs 61 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. Income from product sales accounted for 99.36% of Traya's total operating revenue, which rose to Rs 234.5 crore in FY24, up from Rs 61 crore in FY23. The rest income came from courier services and doctor consultation fees. Moving on to the expense part, marketing and sales accounted for 43% of the overall expenditure. This cost grew twofold to Rs 98 crore in FY24 from Rs 51 crore in FY23. To the tune of scale, the cost of procurement of materials surged 3.6X to Rs 54 crore in FY24. Traya’s employee benefits also saw a 4X surge to Rs 36 crore in FY23. Other overheads including freight, legal, and travelling increased the overall cost by 154% to Rs 229 crore in FY23 from Rs 90 crore in FY23. The 3.8X growth in scale enabled Traya to achieve a notable profit of Rs 9 crore in FY24, a stark contrast to the Rs 28 crore loss in FY23. Its ROCE and EBITDA margin improved to 8.7% and 5.04%, respectively. On a unit basis, the company spent Rs 0.97 to earn a rupee in FY24. Traya's total current assets recorded at Rs 159 crore, with a cash balance of Rs 85 crore at the end of the previous fiscal year. According to startup-data intelligence platform TheKredible, Traya has raised approximately Rs 96 crore to date, including Rs 75 crore in funding from Xponentia Capital in April this year. The company counts notable investors such as Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital.

How Traya Is Filling The Bald Spot Left Unattended By Unilever, L’Oréal & Others In The Indian Hair Care Market

Inc42Inc42 · 1y ago
How Traya Is Filling The Bald Spot Left Unattended By Unilever, L’Oréal & Others In The Indian Hair Care Market
Medial

Indian hair is known for its thickness, strength, shine, and smoothness, largely due to the traditional diet consisting of cereals, millets, vegetable oils, ghee, nuts, and oilseeds. However, the market is saturated with hair care products that claim to promote hair growth but often fail to deliver results. Traya, a hair care brand, aims to fill this gap by combining Ayurveda and allopathy to address health issues related to hair loss. The company offers a range of solutions certified by their team of doctors, with plans to expand internationally and into different segments such as women's health. Stress, inadequate nutrition, and medical conditions like anaemia and thyroid can contribute to hair problems.

Exclusive: Pilgrim raises $9 Mn with 3X valuation surge

EntrackrEntrackr · 1y ago
Exclusive: Pilgrim raises $9 Mn with 3X valuation surge
Medial

Beauty and personal care D2C firm Pilgrim has raised Rs 75 crore (approximately $9 million) in its extended Series B round led by Fireside and Vertex Ventures. The board at Pilgrim has passed a special resolution to issue 854 Series B1 and B2 preference shares at an issue price of Rs 8,77 655 each to raise Rs 75 crore or $9 million, its regulatory filing accessed from the Registrar of Companies shows. Fireside and Vertex Ventures pumped in Rs 25 crore and Rs 23 crore, respectively. NSFO Ventures, Mirabilis Investment, and NABS Vriddhi cumulatively invested Rs 27 crore during the round. The company will use these proceeds for expansion and general corporate purposes as decided by the board, the filings further added. According to the startup data intelligence platform TheKredible, the company’s valuation has soared to approximately Rs 2,075 crore (around $250 million) post-allotment. This marks an over threefold increase from its last funding round, of $20 million where the company was valued at $75 million. The firm may raise more funds in this round. With the recent funding, Fireside Ventures remains the largest external stakeholder with a 23% stake, followed by Vertex Ventures, which holds 11.2%. NSFO Ventures and Mirabilis Investment command 5.57% and 2.81% stakes, respectively. Founded by Anurag Kedia in 2019, Pilgrim offers more than 90 SKUs across face care, haircare, and skincare products, and fragrances in over 25,000 pin codes. The company said that it offers a wide range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers. The five-year-old firm has raised around $35 million across rounds including its $20 million Series B led by Vertex Ventures in 2023. The company posted 4.47X growth in scale to Rs 76 crore in FY23 from Rs 17 crore in FY22. In pursuit of growth, its losses also jumped 3X to Rs 23 crore in FY23. Pilgrim is yet to file annual results for FY24.

Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures

EntrackrEntrackr · 1y ago
Moxie Beauty raises Rs 17.3 Cr led by Fireside Ventures
Medial

D2C haircare brand Moxie Beauty has raised Rs 17.3 crore or $2.1 million in a new round led by Fireside Ventures. The round also saw participation from a group of angel investors, including Samir Singh (ex Unilever CMO Personal Care, Chair Unilever Asia), Arjun Purkayastha, Suhasini Sampath (founder, Yoga Bar), Navin Parwal and Sangeet Agrawal (founders, Mokobara). In April last year, the Gurugram-based startup had raised $669K in its seed round from Amplify Partners, OTP Venture Partners and others. The new proceeds will be used towards product innovation and research, hiring talent, and expanding distribution channels. Launched by Nikita Khanna and Anmol Ahlawat, Moxie Beauty makes salon-quality hair care products that are tailored for Indian hair textures. Besides essentials like shampoo and conditioner, it offers leave-in products and styling products that help tackle dryness and frizz.

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