Key facts
- HaloBraid has raised $7 million in seed funding.
- The funding round was led by Seven Seven Six.
- The startup is developing an automated device to assist professional stylists with hair braiding.
- The device aims to significantly reduce the time for braided hairstyles.
- HaloBraid plans to launch its first product later this year.
HaloBraid, a startup focused on automating the intricate process of hair braiding, has secured $7 million in seed funding, led by Alexis Ohanian's venture firm Seven Seven Six. The company aims to revolutionize traditional hair braiding, a practice that can take up to 12 hours, by developing a robotic assistant for professional stylists.
Founded by Yinka Ogunbiyi, who holds an MS in engineering from Harvard and an MBA, HaloBraid views hair braiding as a technical challenge. Ogunbiyi, drawing on her background and experience during the COVID-19 pandemic, developed a device that can reportedly complete a braid in seconds after a stylist initiates the process. The technology is designed to be gentle and capable of assisting with various braid types, including knotless and box braids.
Ogunbiyi's research highlights the significant time investment in hair braiding, estimating that 8 billion hours are spent globally each year. A survey indicated that 95% of people would braid their hair more frequently if the process were faster. The technology also addresses the physical toll on stylists, who often suffer from repetitive strain injuries due to long hours.
Alexis Ohanian, whose family members sport braided hairstyles, recognized the substantial market opportunity, particularly in the underserved textured hair care sector. He compared HaloBraid's potential to Dyson's impact on hair tooling, emphasizing that "hardware's moment" is now. Other investors in the seed round include AlleyCorp and Bling Capital.
The new capital will be allocated towards product development, manufacturing, and establishing salon partnerships. HaloBraid also has future plans to develop a device for undoing braids, which can be as time-consuming as the braiding process itself. The company's overarching goal is to create innovative technologies that make textured haircare faster, easier, and more enjoyable.