Personal hair care startup MYAVANA closes $5.9m seed investment in hair AI

MYAVANA, the trailblazer in AI-driven personalized hair care, announced the closing of $5.9 million seed round. This infusion of capital underscores MYAVANA's pivotal role in revolutionizing the global hair care market, projected to reach $113 billion by 2031.

The funding is spearheaded by strategic investors who understand the AI market and MYAVANA's impact using hair data to inform markets. Investors include Prisma Ventures (the innovation fund of Ulta), H/L Ventures, New Age Capital, BrainTrust, Duo Partners, REFASHIOND Ventures, Resilient Ventures, Amazon, Reform Ventures, and NGC Capital. This round of funding will accelerate MYAVANA's unique market position, pioneering personalized haircare.

Candace Mitchell, CEO and Founder, MYAVANA: "A person's hair is as unique to them as a fingerprint, and we've unlocked powerful, personalized insights with our AI platform. Hair is the longest record of your body's health, providing as much as a decade of information about a person's health and needs. I'm grateful to our investors who see the long-term potential and share our mission."

MYAVANA's journey over the past 12 years has been marked by breakthrough innovations, with the development of the world's first AI-driven, proprietary personalized hair care software system at its core. Hair analysis is as unique as a fingerprint and reveals so much about us: texture, type, condition, toxins and minerals in the body, illnesses, stress, medications, and diet. MYAVANA is leveraging its market leadership position and data-driven insights to impact several core areas initially.

MYAVANA's pioneering HairAI^™ technology utilizes microscopic hair analysis and advanced algorithms to decode the intricacies of hair texture, type, and condition, providing retailers, consumers, and salons with instant product recommendations tailored to their specific needs.

Oliver Libby, Managing Partner, H/L Ventures: "Our mandate is to seek impactful businesses with high growth potential and diverse founding teams, and MYAVANA is just such a company. Hair AI can lead to numerous commercial opportunities and even wellness insights, and we believe Candace and her team can unlock this exciting potential."

www.myavana.com

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