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Clean Haircare Brand Adwoa Lands $4 Million Seed Funding

September 5, 2022
September 5, 2022
Adwoa

Clean haircare brand Adwoa Beauty closes a $4 million seed investment from Pendulum Holdings.

WHO: Julian Addo launched Adwoa Beauty in 2017 with a mission to shift the conversation around naturally curly hair and marketing to be inclusive and also encapsulate "the modernization of Black people." The brand launched in Sephora US and Canada in 2019 with its range of 11 products.

Pendulum is a strategic investment and advisory platform. Founded in 2019 by D'Rita and Robbie Robinson, Pendulum reimagines how great companies and brands are built—and who gets to build them. Through its investment arm Pendulum Opportunities, and strategic advising arm Pendulum Partners, the firm accelerates opportunity and value creation for founders and leaders of color. Pendulum Opportunities invests in high-growth businesses, meeting the changing demands of the future, values-driven consumer.

WHY: The brand will use the seed funding for product development and brand awareness campaigns.

IN THEIR OWN WORDS: Ron Mackey, Managing Director at Pendulum, stated, "Julian and her team at Adwoa Beauty have showcased robust growth as an initially self-funded, innovative brand that has now turned consumers into loyal devotees across the country. With its differentiated and efficacious product offering and strong consumer demand propelling the broader prestige textured hair care category, Adwoa Beauty is well-positioned for continued expansion."

Julian commented, "With Adwoa Beauty now being at a critical juncture in its growth potential, this is the perfect opportunity for me to partner with the team at Pendulum, leveraging their capital investment and partnership to put as many resources as possible behind our continuous product development and innovation, sales support and strategic marketing to maximize the brand's potential."

DETAILS:

  • Adwoa Beauty closed a $4 million seed investment from Pendulum Holdings.
  • Julian Addo self-funded the brand's launch with a personal investment of $80,000. This round of funding marks the first outside investment.
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