Unilever’s venture capital arm Unilever Ventures has invested in Australia-based haircare brand Straand, as part of a $2m pre-seed round.
The brand will use the investment to expand in the US, the UK, Europe and China. Straand is set to launch in the US soon, both through its own direct channels and on Amazon.
The brand launched at Australian online beauty retailer Adore Beauty in October.
Unilever Ventures Partner Rachel Harris said Straand differentiates itself through its microbiome-focused formulations, its appeal to younger consumers and its affordable prices.
Straand launched in July 2022 and was developed in response to what it says is limited innovation in the scalp health category. Instead of the chemical products available on the market to treat concerns such as dandruff, Straand says its naturally works with the scalp microbiome and addresses the cause of scalp issues.
The haircare brand is cruelty free, vegan and uses natural, Australian made ingredients. Its products are geared towards tackling issues such as scalp dryness, flaking, product build-up, thinning and hair loss thanks to the use of prebiotics.
Straand was founded by Jeremy Hunt, Meagan Pete, Sarah Hamilton, Tim Brown and Nick Morris, who have all worked with and for beauty and personal-care brands such as Sand & Sky, Swisse and Aesop.