Unilever has agreed to invest A$2m ($1.42m) in Australian scalp care brand Straand, which was founded last year.
The pre-seed investment from Unilever Ventures has been earmarked for expansion into the China, southeast Asia, Europe and the US.
Straand is set to enter the US and southeast Asia imminently and is looking to launch in Europe around April.
The Melbourne-based company recently launched four key prebiotic scalp balancing products: The Crown Cleanse, The Crown Fix Serum, The Head Doctor Conditioning Treatment and The Miracle Worker Scrub.
Straand products contain Lucas Meyer Cosmetics’ Defenscalp, a prebiotic ingredient made from a rosebay extract said to balance the biome and help combat dry, itchy skin and common conditions such as dandruff.
“Dandruff and broader scalp concerns are a significant and much maligned condition globally. There has been limited innovation in the scalp health category for many years and it is ripe for disruption,” Unilever Ventures partner Rachel Harris told Forbes Australia.
“Straand stood out with its microbiome-focused formulations, bold branding, youthful appeal and affordable positioning. We are excited to support Jeremy and the team on bringing Straand to market,” she added.
In a related development, Unilever has appointed Hein Schumacher as its next CEO, effective 1 July.
Currently CEO of global dairy and nutrition business Royal FrieslandCampina, Schumacher will replace the outgoing Alan Jope.