Startup funding in India may soon see another large D2C round: customised haircare startup Traya is in talks to raise around ₹300 crore (about $31 million) from Belgium-based investment firm Verlinvest, sources told Inc42. The proposed round would value the Mumbai-based startup at ₹2,500–3,000 crore and include both primary and secondary components. The talks are not finalised yet and the funding amount could go up.
The discussions come as Traya clocks an annualised revenue run rate of ₹900–1,000 crore and expands its offline presence beyond 20 centres across Pune, Mumbai, Nagpur and Hyderabad. According to the company's filings, operating revenue grew 43% year-on-year to ₹338.4 crore in FY25 from ₹236 crore in FY24, though it reported a net loss of ₹22.5 crore in FY25 against a profit of ₹8.8 crore the previous year, as total expenses rose 60% to ₹365.5 crore.
A crowded haircare bet paying off
Founded in 2019 by Saloni Anand and Altaf Saiyed, Traya offers personalised hair-loss solutions, combining hair assessment, a recommendation algorithm and doctor approval to build treatment plans. The startup claims to have served more than 10 lakh customers through its app, website and e-commerce platforms. Its investors include Xponentia Capital (₹75 crore in April 2024), Kae Capital, Fireside Ventures and Whiteboard Capital.
Why it matters for founders
Traya's trajectory is a case study in building a personalised D2C brand: 10 lakh customers, a ₹1,000-crore revenue run rate, and a valuation up for a 3–4x jump — even with FY25 losses from aggressive offline expansion. If you are raising for a D2C brand, note that investors are now pricing in omni-channel execution, not just online growth.