Indian haircare brand Arata has landed a Series A round of funding from Unilever Ventures and L'Oréal's BOLD venture fund, valuing the business at $22.9 million.WHO: Founded in 2018 by Dhruv Madhok and Dhruv Bhasin, Arata offers haircare products tailored to Indian hair types. The range addresses diverse needs, including hair growth, dandruff treatment, styling, and maintenance for straight, wavy, and curly hair. Products are sold through its direct-to-consumer website, marketplaces like Nykaa, Flipkart, and Amazon, and quick delivery platforms such as Zepto and Swiggy Instamart.WHY: Arata plans to use the infusion of capital to improve its R&D in hair and scalp care, expand marketing efforts, and recruit new talent.IN THEIR OWN WORDS: "We will continue to invest in innovation, consumer research, and distribution across our website, quick-commerce platforms, and marketplaces to build India's most loved hair beauty brand," co-founders Bhasin and Madhok said in a statement.Commenting on the deal, Pawan Chaturvedi, partner and Head of Asia at Unilever Ventures, said, "With a strong innovation pipeline and a solid foundation, Arata is poised for greater success in the coming years, and we are excited to be a part of this journey."DETAILS:Arata raised $4 million in a Series A funding round led by Unilever Ventures, with participation from L’Oréal’s BOLD venture fund and Skywalker Family Office.The investment round valued the business at INR 195 crore (around $22.9 million).About 30% of sales come from its website, while the other 70% come from these platforms.Arata has a customer base of over 1.5 million served annually and has achieved an INR 72 crore ($8.