Enygma Ventures has announced a R4-million ($280k) investment into Cape Town-based black hair care and lifestyle brand Brown and Ayo.
The investment reflects the venture capital firm’s ongoing mission to support women entrepreneurs across the SADC.
What You Need To Know Brown and Ayo
Since its inception in 2019, Brown and Ayo has provided customers with an extensive online marketplace of natural hair extensions created to mimic black natural hair textures. The company prides itself in bringing innovative and well-loved products to the SA black woman consumer.
“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. “Brown and Ayo have a proven track record of being steps ahead of the trend, whilst serving a powerfully growing yet often ignored consumer – the black woman.”
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Acanda Jaswa, the founder of Brown and Ayo, stated, “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, a graduate of the Graca Machel Trust’s Women Creating Wealth programme, added, “As a solo black female founder operating outside of traditional technology, my odds for raising significant VC funding were low. It is thus very exciting to be backed by Enygma Ventures and their diverse team that understand this exciting sector and have been extremely valuable in supporting me to think strategically about growing my business.”