Key Takeaways:
- Haircare brand Filament Sciences has raised a $2 million round of seed funding.
- The investment comes on the heels of signing a distribution deal with The Four Star Companies.
- Founder Nathan Puksta is a beauty industry veteran.
The investment will support inventory expansion, growth in the salon professional channel, and education-focused initiatives as the company scales its operations in the professional haircare market.
WHO: Science-driven haircare brand Filament Sciences was founded by beauty industry veteran Nathan Puksta. At the heart of Filament’s product line is Tensilyx, a patented molecular structure designed to kick-start keratin synthesis and adapt to hair's constantly changing ecosystem caused by heat, styling, or chemical damage. The brand debuted in January with an exclusive retail partnership with Violet Grey, and a professional formula is available at dermatology offices and professional salons.
WHY: The funds will be used for working capital, inventory, and professional channel expansion.
IN THEIR OWN WORDS: “It was advantageous for us to do it this way for a number of reasons,” Puksta said to WWD. “It allowed me to control dilution, and retain the vast majority of ownership. I was vastly oversubscribed on the round, so I ended up having to cut a lot of people out, which was good because although it was an awkward conversation to have, we ended up with just two major players rather than having a bunch of people on the cap table.”
Wittington Ventures said of the investment, “Filament’s founder and CEO Nathan Puksta has spent two decades inside the exact playbook he’s now running independently.
