Ruka raises $4.5 million

Ruka Hair said on May 14 that it raised $4.5 million in a funding round co-led by Freedom Trail Capital and Henkel Ventures, giving the London-founded company new capital to expand a biotech push in textured-hair products. The company, founded by Tendai Moyo and Ugo Agbai in 2020, has built its brand around wigs, extensions and braiding products designed for curls, coils and kinks. (cosmeticsbusiness.com) Recent coverage by BeautyMatter and Cosmetics Business said the money will support product development and research tied to Ruka’s proprietary fibre platform. Ruka did not disclose investor stakes. ### Why is this funding round getting attention beyond a standard beauty startup raise? (cosmeticsbusiness.com) Henkel Ventures, the corporate venture arm of Henkel, says it invests in early-stage startups and offers access to Henkel’s brands, expertise and more than 3,000 R&D experts. That makes the round notable because one of the backers is not only a financial investor but also part of a large consumer and industrial products group with beauty operations. Freedom Trail Capital describes itself as a Los Angeles- and London-based early-stage consumer investor focused on culture, lifestyle and influence. BeautyMatter listed the financing on May 14, and Cosmetics Business reported the same day that the funds would help Ruka scale its hair-fibre technology and U.S. expansion plans. (cosmeticsbusiness.com) Those reports place the raise in a part of the beauty market where investors are backing product technology as well as brand growth. ### What exactly is Ruka building with this money? Ruka’s current pitch centers on Synths 2, which Cosmetics Business described as a patent-pending, lab-grown fibre made from collagen that is designed to look, feel and perform like real hair. The publication said the product is biodegradable, hypoallergenic and made without plastic or carcinogens, while Ruka’s own product pages describe its braiding hair as collagen-based and developed for textured styles. (henkel-ventures.com) Tendai Moyo told Cosmetics Business that the next phase includes research and development, performance testing, toxicology, manufacturing and customer education. BeautyMatter reported that the company also plans to expand its research team over the next year. (beautymatter.com) ### How does this fit with the company Ruka has been building since 2020? Cosmetics Business said Moyo and Agbai co-founded Ruka in 2020. Backed VC, which lists Ruka in its portfolio, identifies Moyo as chief executive and co-founder and Agbai as chief strategy officer and co-founder. The company first built around textured-hair extensions and related products before moving deeper into fibre and materials development. (cosmeticsbusiness.com) Ruka’s website says it creates hair products designed with real textures in mind, and its braiding-hair pages say its products are made for consumers seeking alternatives to conventional synthetic hair. Third-party coverage this week said the company is now positioning that materials work as a larger platform rather than a single product launch. (cosmeticsbusiness.com) ### Who else joined the round? BeautyNewsDaily and other trade coverage said the round also included Big Issue Invest, Backed VC and strategic angel investors. Ruka and the lead investors did not publicly disclose ownership percentages in the materials reviewed. (cosmeticsbusiness.com) The MBS Group, citing the transaction on May 14, said the financing brought Ruka’s total funding to about $10 million. That figure could not be independently confirmed from a company filing in the materials reviewed, but PitchBook’s public profile lists Ruka among privately held companies that have raised outside capital before this round. (rukahair.com) ### What happens next? Moyo told Cosmetics Business that Ruka has filed a patent for shape-memory fibre technology and is now focused on applying it through testing, manufacturing and customer education. Separate coverage this week said the company plans a U.S. expansion in 2026 and is using the new capital to keep scaling its fibre platform. (beautynewsdaily.com) BeautyMatter’s May 14 report said the next year will include more product development work and an expanded research team. Henkel Ventures, which typically writes checks from 0.5 million euros to 5 million euros, said on its site that it targets early-stage through Series B companies, putting Ruka within the range of ventures it backs for follow-on growth. (thembsgroup.co.uk) (beautymatter.com) (cosmeticsbusiness.com)