Mumbai-based personalised haircare startup Traya is in discussions to raise around Rs 300 Cr from Belgium-based investment firm Verlinvest, in a proposed transaction that could value the company at Rs 2,500-3,000 crore.
The proposed round could include both primary capital, which would go into the business, and secondary share sales by existing shareholders. The deal has not been finalised, and the funding amount could change.
The discussions come as Traya expands its online and offline presence and reports an annualised revenue run rate of Rs 900-1,000 crore,
Traya's Revenue Growth and Profitability Challenge
Founded in 2019 by Saloni Anand and Altaf Saiyed, Traya combines hair assessments, personalised recommendations and doctor-approved treatment plans to address hair loss. Its approach brings together hair science, nutrition and Ayurveda.
The company sells through its website, app and ecommerce marketplaces, while building an offline presence. It currently operates more than 20 centres across Pune, Mumbai, Nagpur and Hyderabad, according to the report.
Traya latest disclosed financial report shows a business growing rapidly but facing pressure on profitability. Its operating revenue rose 43% year-on-year to Rs 338.4 Cr in FY25, compared with Rs 236 crore in FY24.
However, the company reported a net loss of Rs 22.5 crore in FY25, against a profit of Rs 8.8 crore in the previous financial year. Total expenses increased 60% to ₹365.5 crore. Traya had not filed its FY26 financial statements with the Ministry of Corporate Affairs.
These figures make the proposed investment particularly relevant: investors would be assessing not just revenue growth, but whether the company can sustain expansion while improving its cost structure.
- Verlinvest's Potential Bet on Personalised Consumer Health
The proposed funding would follow Traya Rs 75 crore investment from Xponentia Capital in April 2024. Its other investors include Kae Capital, Fireside Ventures and Whiteboard Capital.
Verlinvest invests in consumer-focused businesses across categories, including food, beverages, wellness and lifestyle. A potential investment in Traya would add to its exposure to India's growing personalised consumer health market.
Traya's model seeks to differentiate itself from conventional haircare brands by linking product recommendations to individual assessments and treatment plans. This can create opportunities for ongoing customer relationships, although long-term performance depends on customer retention, treatment outcomes and the cost of acquiring new customers.
The proposed transaction remains subject to negotiations. Until the parties confirm the deal, the reported investment amount, valuation and annualised revenue run rate should be treated as indicative rather than final figures.
