The Renatural 👩‍🦱

Setting the Scene

• The global hair extension market is valued at a staggering $19 billion, yet it remains surprisingly outdated in its methods and distribution with little to no changes since 1680.

• Shortfalls include:

  • Poor quality, often resulting in uncomfortable products that lack realism and easily slip off.

  • A monopolized supply chain that exploits suppliers and consumers.

  • Production primarily done by hand, limiting scalability and increasing process time.

• This week’s company leverages automation, robotics, and patented technology to revolutionize the wig and hair extension manufacturing industry.

In a Sentence

The Renatural is a beauty company that manufactures and automates the production of high-quality wig and hair extension products.

• Manufactures: The Renatural’s patent-pending robot revolutionizes back-end production, significantly enhancing efficiency by slashing production time and eliminating labor costs.

• Automates: The integration of an AI-powered custom measurement tool through users' phone cameras personalizes the shopping experience, ensuring products fit perfectly.

• Products: The company transforms wig wearability with its non-slip technology and uses hyperrealistic, novel fabric that is not only long-lasting but also sustainable.

The Basics

• Industry: Manufacturing, Beauty

• Headquarters: Brooklyn, NYC

• Year founded: 2020

• Employee count: 5

• Notable Investors: Susa Ventures, Brooklyn Bridge Ventures, Rarebreed, Redbud VC, Pharrell Williams, Olamide Olowe, Ukonwa Kuzi-Orizu Ojo.

• Amount raised: $1.5m pre-seed

• Business model: B2B & B2C

• Early traction: 40k waitlist for wig launch, $2M+ in revenue, 3 patents

  

IN PARTNERSHIP WITH

• The Hustle on a mission to deliver the best business-tech daily in the biz.

• They’ve been called “a bit too silly and simplistic.” And “too techy.” Also, “too much about numbers.”

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Due Diligence

WHAT WE LIKE

• Market Potential: Positioned in an industry expecting to approach $19B, that has seen little innovation in centuries, The Renatural has significant growth potential by modernizing and enhancing the production of hair extensions.

• Patented: With three patents and a unique blend of robotics and AI, The Renatural is set to outpace competitors by improving both the quality and efficiency of production.

• Ethical and Environmental: The wig industry has been criticized for unethical practices, along with producing excessive waste, while in contrast, the Renatural’s product promotes ethically produced and long-lasting wigs.

POTENTIAL RISKS

• High Capital Expenditure: The high costs associated with developing and deploying advanced manufacturing technologies could strain financial resources, particularly for a startup.

• Technological Reliability: Dependency on advanced robotics and AI systems introduces risks of malfunctions or failures.

  • Plus, the reliance on sustainable materials like organic bamboo and other wig materials is susceptible to supply issues, affecting production capacity and prices.

• Purchase Frequency: Wigs last 6-12 months or longer with proper care; This extended product lifespan could lead to a lower number of annual transactions.

Founder Profile

• Aasiyah Adulsalam: Forbes 30 Under 30 and previously founded Alero Jasmine.

Comps

• Mayvenn: Backed by Rivet Ventures, Base Ventures, LaunchCapital, 500 Global, and others.

• Parfait: Backed by Visible Hands, Serena Ventures, Ulu Ventures, Upfront Ventures, Unshackled Ventures, Contrary, and others.

Event Board

• Industry Dinners

  • May 15th, NYC Cloud Infrastructure Dinner - NYC (limited spots, apply here)

• Upcoming Events (Interested in getting in front of thousands of founders and investors IRL? Work with us)

  • June 4th, NYTechWeek Save the Date. Announcing next week.

Cast Your Vote

Last Week Today

• The results are in: Outsail, a company that leverages wind energy to provide a cost-efficient and sustainable solution in the maritime industry, was favored in last week’s poll.

• Subscriber feedback: “With a great mission and lots of early traction, it will be interesting to see how Outsail will change the future of shipping.”