this morning RebundlingA St. Louis-based hair-focused startup has announced that it has raised $ 1.4 million in a pre-seed round. M25A geographically focused venture company in the Midwest, has led a funding event.Prior to the pre-seed round, Rebundle was raising CEO and co-founder Ciara Imani May In an interview with TechCrunch, it’s described as a six-digit grant and other undiluted capital.
Rebundle creates and sells hair extensions made from plant-based materials. My knowledge of hair extensions is modest, but Mei has pointed out some important points.First, the market is Both are big, And it varies from low prices (plastic-based products) to expensive (human hair) in a myriad of price ranges. And second, plastic extensions can irritate the scalp.
Prior to founding Rebundle, he may have focused on a more sustainable life and was aware of the irritation that plastic extensions could cause. What her startup has created has the potential to remove plastic from products, help customers be smarter, limit waste, and help the environment.
Rebundle uses banana fiber as the core material for extensions sold in different colors to create products. In particular, the company is building new production facilities in the United States rather than offshore.
Manufacturing returns us to the funding round. The CEO said it will be used to invest in both the team and the supply chain. Rebundle was out of stock within an hour before raising more capital. This meant that previous sources of funding were too small to expand properly. Please enter venture capital.
Rebundle is a DTC company that sells its products through its website. In May, I asked how many times a year a person using a hair extension could replace it with a new set. She said up to five times a year. This means that Rebundle sells what looks like a subscription through its own channel. The gross profit profile of the extension market is not clear at this time, but Rebundle has become an interesting business case due to the possibility of regular sales of extensions.
Recall that a pile of venture capital was invested in a DTC model of a product that repeatedly lacked hooks. The results were mixed..
For obvious questions about the company’s product subscriptions, the co-founders hesitated to share the details and only admitted that the idea had “room to play.” She explained that today’s extension customers usually don’t buy product subscriptions. If Rebundle can expand onshore manufacturing and introduce regular services into its product mix, it won’t be shocking to see the company launch again this year.
You probably don’t need to. The company’s CEO told TechCrunch that her latest round was put together in a rolling close, but the capital will provide a runway for at least 18 months, and perhaps more. So you won’t need to raise money in the short term with Rebundle, but not needing money will not delay raising money when many startups are offered.
Rebundle raises $1.4M for plant-based hair extensions – TechCrunch Source link Rebundle raises $1.4M for plant-based hair extensions – TechCrunch
The post Rebundle raises $1.4M for plant-based hair extensions – TechCrunch appeared first on California News Times.