UK-based haircare brand Chāmpo received $1.2m funding to boost international expansion

UK-based haircare brand Chāmpo announced that it was receiving funding of $1.2m from angel investors and an investment fund backed by the European Investment Bank.

The funds will be used to support its expansion into new channels, roll out internationally and develop new products.

The London contemporary hair care brand is influenced by principles of Ayurveda and vegan and cruelty free, having won accolades including the Marie Claire Hair Awards, Indy Best Buy and Women’s Health Beauty Awards.

Kuldeep Knox, Founder and Chief Executive Officer of Chāmpo, commented: “The global hair care market is at a really exciting and pivotal point in time. People are willing to pay more for superior products and expect different things from their shampoo than they did five years ago. The global hair care market is tipped to grow from $75bn in 2020 to $113bn by 2028, driven by a demand for healthier, shinier and stronger hair. Our widening range of products are well positioned to meet this demand. Our thanks to the European Investment Bank and our angel investors for supporting our growth ambitions.”

Steve Brandon ex-Deloitte Partner, Chāmpo and Funding Circle angel investor, added: “Kuldeep has established a thriving brand in a high growth market segment and having enjoyed previous investment success with consumer brands at a similar stage, I knew this was an opportunity not to be missed. I look forward to supporting Kuldeep through the next stage of business growth and beyond.”