Business Remedies | Rajshree Upadhyaya | With sheer hard work, Mumbai-based Computer Science graduate Ayush Mahesh Verma has carved his own identity by launching a customized hair care startup. After college, he chose an unconventional path. Instead of taking up a secure job, he embarked on a six-month journey across India. This trip opened his eyes to a peculiar pattern-hair problems varied dramatically from one region to another. On the humid coasts, curly hair was most common; in dry interiors, hair became brittle; and in polluted metros, protecting hair was a daily battle. Yet, the market offered the same bottled products for everyone. Ayush spotted a gap that could not be ignored.
After 18 months of research and development, Ravel was born in January 2021-a haircare brand built on hyper-personalization. Customers began their journey with a detailed online quiz covering everything from hair type and scalp condition to lifestyle, climate change, and stress levels. The results, reviewed by hair science experts, determined a unique formula. With over 50 billion possible combinations, Ravel’s products blended natural ingredients and were free from sulfates, parabens, phthalates, formaldehydes, and animal testing.
Astonishing early growth for a bootstrapped venture
Ravel’s early growth was remarkable for a bootstrapped business. Between January 2021 and March 2022, it recorded sales worth Rs. 1.55 crore. In the following year, even with partial operations, it earned an additional Rs. 1.4 crore. By mid-2022, monthly sales had surged from Rs. 15 lakh in April to Rs. 40 lakh in July. Net profit peaked at Rs. 5.5 lakh, and repeat purchase rates climbed from 27% in three months to 35% in six months. All sales happened through its own website, keeping marketing expenses low.
This momentum led Ayush to Shark Tank India Season 2, Episode 22. He sought Rs. 75 lakh for 2.5% equity, valuing Ravel at Rs. 30 crore. While the Sharks were intrigued, differences arose. Aman Gupta advised deeper market research, Namita Thapar withdrew due to overlapping investments, Vineeta Singh expressed concerns over scalability with so many SKUs, and Peyush Bansal felt the branding was weak. Only Anupam Mittal made an offer-Rs. 75 lakh for 10% equity, provided Ravel achieved Rs. 7.5 lakh monthly profit within two months. This drastically reduced the valuation to Rs. 7.5 crore, but Ayush eventually agreed.
A boost in popularity
The deal boosted Ravel’s visibility, but its appeal was not built on numbers alone. The brand capitalized on the growing consumer demand for personalized solutions, clean ingredients, and tech-based customization. Its promise was not just custom hair care-it was hair care designed by understanding an individual’s environment, habits, and unique biology.
Public response has been mixed yet impactful. Some customers praise Ravel for reducing hair fall, improving volume, and enhancing scalp health, calling it “one of the good products in the market.” Others remain skeptical, comparing it to international brands like Function of Beauty and questioning whether its personalization truly goes beyond packaging and quiz mechanics.
A distinctive place in India’s startup history
From an idea born during a backpacking trip to a conditional deal on Shark Tank, Ravel’s journey reflects both the potential and the challenges of India’s personalized beauty wave. It is a story of identifying a real need, building a tech-enabled and ingredient-conscious solution, and launching it into a crowded yet rapidly evolving market.
Whether Ravel becomes a household name or a niche favorite will depend on how it scales its personalization without losing authenticity-but for now, Ayush’s determination has earned Ravel a unique place in India’s startup history.
Written & Edited By:
Rajshree Upadhyaya
