Subjects: WOM, VEN, DEI
Black Female-Founded Startup, Naturaz, Raises $1 Million in Growth Capital
The clean health and beauty company defies fundraising odds and reaches significant milestone with the support of the Philadelphia investment community
PHILADELPHIA, Aug. 1, 2024 /PRNewswire/ -- Naturaz, the clean health and beauty company that formulates, manufactures and distributes 100% vegan hair care products for curly hair, announced today that it raised $1 million in investments during its seed round of financing. Key investors in the round included the Philadelphia Community Impact Fund, which invested $300,000 in the round, as well as other impact and angel investors.
Naturaz is a groundbreaking clean hair care product line, meticulously crafted by Founder and CEO Mumbi Dunjwa, delivering and sustaining an impressive 3X more moisture in curly hair. As an award-winning chemist from the American Chemical Society, Dunjwa utilized her background and experience in chemistry, large pharma, healthcare, and technology to build Naturaz.
According to a recent report by PitchBook, women are massively under-represented among venture capital investors, with companies founded solely by women receiving less than 3% of all venture capital investments. Fundraising is an especially difficult journey for Black female founders, who have long been significantly under-funded. Dunjwa is forging ahead, reaching a significant milestone in the company's journey of raising $1M in investment capital.
"We are so grateful that the Philadelphia investment ecosystem has been so supportive of Naturaz and our mission," said Mumbi Dunjwa, Founder and CEO of Naturaz. "The funds that have come from the Philadelphia Community Impact Fund, in addition to other investors who have been instrumental in this process, will go a long way in ensuring Naturaz products become available and accessible to curly-haired women and their families across the United States. We're hopeful that sharing our story serves as an example and an inspiration for female entrepreneurs."
With the help of the Philadelphia Community Impact Fund, the Bucks County IDA and other investors, Naturaz raised over $700,000 in the last six months, and fundraised $500,000 in July alone. Although the journey to get there has not been easy, Naturaz has found success by taking a unique approach to raising capital. The company focused on building strong, targeted relationships with investors by creating the opportunity to speak with stakeholders one-on-one, connecting them to the company's brand strategy, growth trajectory and future optimizations.
Securing this significant funding allows Naturaz to execute its retail expansion strategy, bringing high quality, highly efficacious, vegan hair care products to consumers who are demanding cosmetic products that keep the health of their families top of mind. Naturaz looks forward to raising additional investment capital before closing this round soon. The company also looks forward to continuing to formulate innovative products that are 100% vegan, non-GMO, highly effective and scientifically formulated to care for curly hair. Naturaz products are currently available in beauty supply stores and can be purchased online at www.Naturaz.com.
About Naturaz
Naturaz is a socially inclusive, clean health and beauty company that formulates, manufactures and distributes 100% vegan hair care products for curly hair. This groundbreaking product line, meticulously crafted by Founder and CEO Mumbi Dunjwa, delivers and sustains an impressive 3X more moisture in curly hair. The company's signature Moisture Burst System® is the embodiment of Naturaz's commitment to excellence in hair care. Naturaz has been committed to formulating products that are 100% vegan, non-GMO, highly effective and scientifically formulated to care for curly hair. To place an order or learn more about Naturaz, visit www.Naturaz.com.
Media Contact:
Kathleen Dwyre
[email protected]
SOURCE Naturaz
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