Online hair loss treatment company Traya has raised Rs 75 crore from equity fund Xponentia.
Founders Saloni Anand and Altaf Saiyed began Traya in 2019 as a solution to Altaf’s own hair loss problems. Now, the company reportedly has raised over Rs 20 crore in funding and is on its way to become a leader in the field.
Traya prides itself on its solutions based on a combination of Ayurveda, nutrition, and dermatology, providing customised solution from doctors to their users. Traya has designed a three-step process – an online test, a hair coach call, and finally a prescription and diet plan. Their technology, powered by artificial intelligence, evaluates the pictures and test submitted to recommend solutions to their patients. Simultaneously, they use authentic ingredients in all their products, maintaining transparency by disclosing all their ingredients and their uses. Seemingly assured of the efficacy of their product, Traya offers a 100% money-back guarantee to any dissatisfied users.
In their statements, Xponentia Capital has expounded on their belief in the Traya philosophy and innovation. They believe that the industry knowledge Traya has acquired and the effort they have put into developing their novel solutions – a combination of various treatment methodologies. Xponentia has dedicated themselves to work with brands who have established themselves online, among which Traya is one.
Traya would be using these funds to expand to non-metro markets and increase their research and development efforts into their product line. While their main consumers are often men suffering from male pattern balding, they are also putting in the effort to reach out to the female user base. They have recently launched a line of products for women, who suffer from hair loss due to conditions such as polycystic ovarian syndrome (PCOS), perimenopause, and thyroid and hormone imbalances.