NEW DELHI: O’2 Nails India, a consumer & fashion retail company that specialises in nail care space, has raised an undisclosed amount in the pre-seed round of funding. The round saw participation from angel investors including Amit Singal (CEO of StartupBuddy and Fluid Ventures) and Manish Aggarwal (Partner of Fluid Ventures). They led the round along with Nitin Gupta (Founder and CEO of Etherea Coworking) and other investors.
O’2 Nails India is a nail care company and fashion brand that operates Quick Service format boutiques in eight cities across India including Delhi NCR, focusing on the nail care market. The founders Aparna and Vikram Singh recognised a need and supply imbalance in the nail service market of $500 million and in 2018 they opened their first boutique to meet that demand. The brand has so far grown their retail footprints by 200% and customer base by 10X on YoY. O’2 Nails India has 90% female staff participation.
In a statement, Aparna Singh, CEO, O’2 Nails India said, “Amit Singal and his company showed confidence since the beginning when we won in their accelerator program in September 2020. They helped nurture our process and business model with their suggestions. This seed investment will help us enhance the standards in our services. We will use these funds for technological advancement along with retail growth by increasing our stores to fifteen till March 2022.”
“The Indian nail care and art market is growing at a fast pace with a focus on hygiene amongst women. With increasing disposable income, working women and college goers who tend to stay up to date with fashion is expected to drive this market. With the help of the proper technology and a rapid service style boutique, this company is hitting the target audience at the right time.”
O’2 Nails India has been awarded the Most Trusted Nail Salon Chain in 2021 and 2022. The company is working towards empowering women with their franchisee concept in retail.