Alodia Hair Care closed on a $2 million funding round from New Voices Foundation to scale the business.
WHO: Dr. Isfahan Chambers-Harris, a biomedical scientist and trichologist, and Dr. Rashad Dupree-Harris founded Alodia Hair Care in 2017. They used their background to formulate a plant-powered line of ten hair and scalp care products priced at $15 to $20.
Essence Ventures CEO Richelieu Dennis founded the New Voices Fund with an initial $100 million dedicated to help level the playing field and close the funding gap for women-of-color–founded businesses.
WHY: The capital will enable the business to scale its DTC and retail as well as product development.
IN THEIR OWN WORDS: "My husband and I invested savings, pitch competition earnings, and every penny the business made back into the business for five years," Chambers-Harris told Sadiaa. "We even borrowed or received money from family to push the business forward during these years. However, last year, I realized that in order to truly scale Alodia into the international brand that I know it can be, I needed the type of funding that only investors could provide."
DETAILS:
