May 29, 2026
Tendai Moyo, CEO and co-founder of Ruka Hair, shares their fundraising journey and her best advice for other founders in a Black Enterprise exclusive
London-based biotech beauty brand Ruka Hair has announced $4.5 million in new funding that will help it bring its innovative hair extensions to the U.S.
Co-founded in 2020 by Tendai Moyo, who was born in Zimbabwe, and Ugo Agbai, who was born in Nigeria, Ruka Hair has built a loyal following by tackling a problem Black women know all too well: finding hair extensions that don’t compromise on quality, safety, or ethics.
Solving for the sourcing questions around natural hair and the harmful chemicals found in synthetic options, Ruka Hair created its own patent-pending, lab-grown fiber called Synths 2. Its hair extensions are made from collagen, are biodegradable and hypoallergenic, and look, feel, and perform like natural hair without plastics or carcinogens.
The new round brings their total funding to $10 million and will allow them to launch U.S. operations this year.
Freedom Trail Capital and Henkel Ventures co-led the round with participation from Big Issue Invest, Backed VC, and angel investors, including British track star Dina Asher-Smith, and retail and M&A expert Sophia Dennis.
“Ruka Hair exemplifies what we look for: founders solving a real problem with genuine commitment, building through community rather than hype,” said Samyr Laine, co-founder and managing partner of Freedom Trail Capital, in a statement.
“Tendai and Ugo built this brand during one of the most challenging periods for consumer businesses, scaled through an authentic community, and are now pioneering biotech innovation that could reshape an entire category,” he continued. “Ruka is on track to become a category-defining brand and a future household name for textured haircare products.”
Co-founder Moyo spoke with BLACK ENTERPRISE about their fundraising strategy and the lessons it has taught them:
What was behind Ruka Hair’s decision to pursue venture capital?
For us, venture capital made sense because Ruka was never just about launching another beauty product. We are building a new fiber platform for textured hair, and that requires significant upfront investment in research and development, testing, supply chain, manufacturing, education, and brand-building.
There are parts of the business that look like consumer packaged goods, but the ambition is much more infrastructure-led. We are trying to change the quality, safety, and experience of hair extensions for a community that has historically been underserved. To do that properly, we needed investors who understood that the opportunity was not just [about] short-term growth, but long-term category transformation.
What has the fundraising journey been like for you?
Fundraising has been stretching, humbling, and, honestly, character-building. We have raised through very different market conditions: from the peak of consumer enthusiasm to a much tougher environment where capital has become more cautious, especially for consumer brands.
As a Black female founder building in a category that has often been misunderstood, I have also had to spend a lot of time educating investors on the scale of the textured hair market, the depth of the consumer problem, and why this category deserves serious innovation.
But the journey has also been incredibly affirming. The right investors have understood that Ruka is not just a beauty brand. It is a science, community, and culture-led business tackling a huge global market.
How did you determine that it was time for another round of fundraising?
The timing was driven by the stage of the business. We had built strong community trust, proven demand, developed Synths 2—our collagen protein fiber-braiding hair—and reached a point where the next phase required more infrastructure.
This round allows us to move from proving the concept to scaling it properly. That means investing in research and development, product testing, supply chain resilience, manufacturing consistency, education, and the operational foundations needed to grow in the United States and beyond.
We were also very conscious of growing responsibly. In a difficult consumer environment, we deliberately constrained spend rather than chasing unprofitable growth. Now the focus is on building the foundations that allow us to scale with more discipline and longevity.
How is this new round of funding different from previous rounds?
This round feels different because it is less about proving that the market exists and more about proving that we can build the future of the category.
Earlier rounds were about vision, community, and the initial product-market fit. This round is more about infrastructure, defensibility, and execution. The conversations are deeper—around supply chain, intellectual property, safety, testing, gross margins, operational readiness, and what it takes to build a business that can last.
As a founder, it also feels more serious. You are no longer just asking people to believe in an idea. You are showing them the system you are building and the discipline behind it.
What will this $4.5 million infusion mean for your hair extensions?
The funding will help us continue scaling Synths 2, our collagen protein fiber-braiding hair, and the wider fiber platform behind it.
It will allow us to invest further into research and development, product testing, supply chain, manufacturing, education, and retail readiness. For us, it is about making sure the innovation is not only exciting, but safe, consistent, high-performing, and easy for customers to understand.
It also supports our United States expansion, including fulfillment, content, community building, and the foundations for larger retail partnerships. We see the United States as a major growth market for Ruka, both commercially and culturally.
Ultimately, this funding helps us build the infrastructure to take textured hair innovation seriously—at the level our community has always deserved.
What advice do you have for other founders about fundraising?
I would say: know what kind of business you are building before you decide what kind of capital to take.
Venture capital is not just money. It comes with expectations around speed, scale, and outcomes, so it has to match the ambition and structure of the company.
I would also tell founders to get very clear on the story behind the numbers. Investors need to understand the market, but they also need to understand why you are uniquely positioned to win. Especially if you are building in a category that has been overlooked, part of the job is education.
And finally, do not let the fundraising process define your worth as a founder. A no is not always a reflection of the quality of the business. Sometimes it is timing, mandate, market conditions, or simply a lack of understanding. The key is to stay close to the truth of what you are building, keep refining the story, and make sure the capital you take serves the company—not the other way around.
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