In a groundbreaking move, first-time entrepreneur Kameese Davis has successfully secured a £530,000 minority stake in her flourishing Nylah’s Naturals haircare business. Adding to the momentum, Bob Holt, former Revolution Beauty CEO, joins as a key angel investor and the newly appointed executive chairman.
This strategic funding, backed by the Midlands Engine Investment Fund and the West Midlands Co-Investment Fund, marks a significant milestone. Additionally, there’s a promising £360,000 offer contingent on Davis attracting private investors or funds willing to match their contribution.
This development follows Davis’s strategic decision to decline financial support on the BBC’s Dragons’ Den program two years ago. Despite turning down a £50,000 offer in 2021, Nylah’s Naturals has now achieved an impressive valuation of £3 million.
Davis highlights the broader significance of this investment in an industry where less than 2% of venture capital is allocated to all-female teams. Moreover, less than 2% is directed towards black and ethnic minority-led businesses, with a fraction reaching black women entrepreneurs.
Expressing enthusiasm, Davis notes, «This serves as an example for other black women to keep persevering. Options are out there, though challenging to secure.»
The newly appointed executive chairman, Bob Holt, brings valuable experience from his role as Revolution Beauty’s former CEO. His addition signifies strategic growth for Nylah’s Naturals, leveraging industry insights and leadership prowess.
Nylah’s Naturals, available at Superdrug and in talks with Tesco, is poised for continued success with this capital infusion and the guidance of its new executive chairman. Explore the transformative journey of Nylah’s Naturals in the dynamic haircare industry.
