IndieBio’s plant-based hair extension company Nourie (formerly Aja Labs) recently closed a $2.5M seed round led by SOSV, Impact America Fund, and Better Ventures, according to WWD’s article, “Meet Nourie, a Nutrient-filled, Plant-based Hair Extension Brand for Black Women”.
Nourie (SF09 2019), a brand founded by Black women for Black women, is on a mission to create ethically-sourced and sustainable hair extensions that bypass the drawbacks of conventional synthetic hair and nourish the hair and scalp during wear.
Nourie founders Osahon Ojeaga and Dr. Mary Moore are among just 200 Black women who have raised more than $1 million in venture capital, according to a Business Insider spotlight on Nourie. Ojeaga shared a 14-page pitch deck with Business Insider including advice about how to raise capital as a Black woman in America.
Her presentation underscored the importance of hair extensions, wigs, and braids as a status symbol across all demographics and economic statuses. Ojeaga also noted that the hair extension market is anticipated to reach $13B by 2026, with individuals spending roughly $2K a year on hair extensions. Her deck also tells investors about the current issues customers face, including skin irritation and potential endocrine disruption. Nourie’s sustainable solution, according to the presentation, brings biomass, crop waste, and green chemistry together to engineer human hair and planet-safe materials that nourish the scalp and hair.
In an interview with BeautyMatter, Ojeaga commented, “Hair has become a status symbol for women everywhere. Black women have been subjected to some of the lowest quality materials by way of fashion and beauty products, leading to irritation and contamination. We are championing a new future, in which sustainability and wellness are paramount.”