Enygma Ventures has announced an investment of R4m into Brown and Ayo, a lifestyle hair brand focused on natural hairstyles and trends for Black women in South Africa.
“We are super excited about this investment as natural hairstyles and products are a fast-growing trend in an extremely lucrative industry,” said Lelemba Phiri, operating partner and principal of Enygma Ventures.
Since 2019 Brown and Ayo has been providing a range of natural Black hair extensions through its online store.
Acanda Jaswa, founder of Brown and Ayo, said: “We are overjoyed about our partnership with Enygma Ventures which provides both financial and strategic support. This will allow us to execute on our vision to scale across Africa and globally.”
Jaswa added: “As a solo Black female founder operating outside of traditional technology, my odds for raising significant venture capital funding were low. It is thus very exciting to be backed by Enygma Ventures and its diverse team that understand this exciting sector and have been extremely valuable in supporting me to think strategically about growing my business.”