When Shailesh Singh and Saumya Alagh walked into the Shark Tank India arena with Truth & Hair, the conversation quickly moved beyond just shampoos and conditioners. The founders were clear, they weren’t chasing a crowded market, but building a focused hair styling and care brand, with their hair mascara leading the charge.
The brand, which was launched in its current avatar in February 2024, positions itself around science-backed formulations and quick-fix styling solutions. The founders opened the pitch with a bold ask, ₹1 crore for 2.5% equity, valuing Truth & Hair at ₹40 crore.
As the discussion unfolded, the sharks dug into the numbers. Truth & Hair reported ₹56 lakh in sales in FY24–25, and by the time of the pitch, had already touched ₹1.28 crore in year-to-date revenue. The growth caught attention, especially considering the brand operates with outsourced manufacturing and a lean two-member R&D team.
The sharks also debated market focus. While the shampoo and conditioner segment is worth ₹8,500 crore, Truth & Hair is betting on the ₹600 crore hair styling market, where products like hair mascara offer differentiation and higher recall. This niche strategy sparked interest, particularly around scalability and brand storytelling.
Negotiations followed, and the valuation became the key point of contention. After back-and-forth discussions, the final deal landed at a very different place from where it started. Varun Alagh stepped in to close the deal, investing ₹2.5 crore for 25% equity, bringing Truth & Hair’s valuation down to ₹10 crore.
With the funding, Truth & Hair plans to strengthen its product pipeline, invest more in R&D, and expand its presence across major online platforms.