Venture Backed Wig Companies - A Report

Venture Backed Wig Companies - A Report

It’s official - wigs are currently one of the fastest-growing businesses in the beauty industry. The category is said to be growing at 15% year-over-year, and by 2023, it’s predicted that the wig industry will be worth over $13 billion. In such a lucrative market, we’ve seen the likes of huge venture capital (VC) funds invest in wig-based start-ups. Here are the VC-funded companies in this space looking to shake things up!

Mayvenn Hair

Mayvenn Hair is a platform for black stylists to sell wig/weave products alongside their service. Here’s their stats:

Main/lead Investors: SO GAL, Serena Ventures, Andreessen + Horowitz, Essence Ventures

Raised: $33m 

Stage: Series B

Launched: 2012

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Image | Wig from Mayvenn Hair

 

My Parfait

My Parfait uses artificial intelligence to simplify the wig-purchase process for its consumers. Their overarching company goal is to adopt tech-savvy practices to revolutionise black spaces. They pride themselves on being ‘the world’s first & only AI-powered tailor-made human hair wig’ provider.

Main/lead investors: Serena Ventures, Upfront VC

Raised: $5m 

Stage: Seed

Launched: 2021

 Used wigs, sell wig, re-used wig, second-hand wig, buy wig, old wigs, buying wigs, Wig-reselling, reselling, wig resell, wigs, The Wig Fix, laid hair, The Renatural, laid wigs, laid wig, weave, weaves, black girl, innovation, wig innovation, Technology, Hair Technology, Hair Tech, Wig Tech, Wig Technology, Wigs, wig, black hair, afro hair, black girl magic, black wigs, hair styling, hair styling tips, hair tips, kinky hair,

Image | Wig from My Parfait

 

Ruka Hair 

Ruka Hair is revolutionising the Afro-texture hair game. They sell a range of wigs, bundles and clip-ins targeted at wig consumers who are looking to embrace the natural 'curly, kinky and coils' look. Check out our previous blog on all-things kinks, coils, curls here!

Main/lead investors: BACKED VC

Raised: $2.25m

Stage: Seed

Launched: 2020

Used wigs, sell wig, re-used wig, second-hand wig, buy wig, old wigs, buying wigs, Wig-reselling, reselling, wig resell, wigs, The Wig Fix, laid hair, The Renatural, laid wigs, laid wig, weave, weaves, black girl, innovation, wig innovation, Technology, Hair Technology, Hair Tech, Wig Tech, Wig Technology, Wigs, wig, black hair, afro hair, black girl magic, black wigs, hair styling, hair styling tips, hair tips, kinky hair,

 

The Waeve

The Waeve’s mission has always been to make fun wigs more accessible. Their salon features a ‘sip and slay’ service, and their business focuses on uplifting black women. Their stats are below:

Main/lead investors: MAEVRON, Pillar VC

Raised: $2m

Stage: Seed

Launched: 2021 

Used wigs, sell wig, re-used wig, second-hand wig, buy wig, old wigs, buying wigs, Wig-reselling, reselling, wig resell, wigs, The Wig Fix, laid hair, The Renatural, laid wigs, laid wig, weave, weaves, black girl, innovation, wig innovation, Technology, Hair Technology, Hair Tech, Wig Tech, Wig Technology, Wigs, wig, black hair, afro hair, black girl magic, black wigs, hair styling, hair styling tips, hair tips, kinky hair,

Image | The Waeve

Upgrade 

Upgrade’s mission is to make wigs more accessible through inclusive salon spaces. They have created an online marketplace where people can submit photos of their hair-inspo and select a stylist to recreate the look. The tech-enabled personalisation service enables consumers to have their desired wig at their doorstep - in just a few clicks!

Main/lead investors: Next Coast, Mercury Fund

Raised: $2m

Stage: Seed

Launched: 2019

Used wigs, sell wig, re-used wig, second-hand wig, buy wig, old wigs, buying wigs, Wig-reselling, reselling, wig resell, wigs, The Wig Fix, laid hair, The Renatural, laid wigs, laid wig, weave, weaves, black girl, innovation, wig innovation, Technology, Hair Technology, Hair Tech, Wig Tech, Wig Technology, Wigs, wig, black hair, afro hair, black girl magic, black wigs, hair styling, hair styling tips, hair tips, kinky hair,

Image | Wig from Upgrade


Rad Swan

Rad Swan have been said to be 'becoming the Glossier of Black Beauty', starting with selling wigs and clip-ins. Check their info below:

Main/lead investors: BBG Ventures

Raised: $1.5m 

Stage: Seed

Launched: 2019 

 

Used wigs, sell wig, re-used wig, second-hand wig, buy wig, old wigs, buying wigs, Wig-reselling, reselling, wig resell, wigs, The Wig Fix, laid hair, The Renatural, laid wigs, laid wig, weave, weaves, black girl, innovation, wig innovation, Technology, Hair Technology, Hair Tech, Wig Tech, Wig Technology, Wigs, wig, black hair, afro hair, black girl magic, black wigs, hair styling, hair styling tips, hair tips, kinky hair,

Image | Wig from Rad Swan

 

Vixxxen 

Although now closed, Vixxxen was a platform for black stylists to sell wig/weave products with their service.

Main/lead investor: Brooklyn Ventures

Raised: $470k

Closed: 2015

 

Rose Gold Pro

Rose Gold Pro allowed Black hair stylists to sell hair products online along with their service, similar to Vixxxen.

Main/lead investor: Quake Capital

Raised: $150k 

Closed: 2018


Whether you’re thinking to embark on a new hair business or you’re just intrigued about VC-backed companies, we hope this report was helpful. If you felt that this report was valuable and informative, let us know in the comments below and we’ll endeavour to produce further finance-based reports in the future!


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