Dragons Den record-breaker yuv styles £9m funding round

A quality exertion institution which precocious secured a record-breaking concern from Dragons’ Den judges including the entrepreneur Steven Bartlett volition this week unveil a further multimillion lb backing injection.

Sky News has learnt that London-based yuv, which claims to person pioneered the world's archetypal astute hairsbreadth colour laboratory strategy for salons and freelance stylists, volition denote connected Thursday a $12m (£8.9m) Series A backing round.

The capital-raise has been led by Nineyards Equity, a Swedish-headquartered maturation equity firm.

Yuv, which was founded by Francisco Gimenez, who has besides participated successful the rise alongside different existing investors, created a dispensing level for nonrecreational hairsbreadth colourings, which it calls the yuv Lab.

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Connected to an app, the strategy replaces single-use tubes with refillable aluminium cartridges successful bid to trim discarded portion offering precise colour formulations.

The exertion impressed some Mr Bartlett and chap 'Dragon' Sara Davies, with each investing £250,000 astatine a £25m valuation - a grounds for a start-up pitching connected the BBC show.

Yuv's Series A circular is designed to accelerate its maturation successful the UK and pave the mode for enlargement successful the US adjacent year.

"With the enactment of Nineyards Equity, VNV Global, and our capitalist network, we are doubling down connected our ngo to alteration nonrecreational hairsbreadth colour done sustainability, design, and technology," Mr Gimenez said.

"Our adjacent section volition bring yuv's level to much salons and freelancers crossed the UK, and soon to the US, wherever we spot monolithic potential."

Estimates suggests that the planetary salon hairsbreadth attraction services marketplace volition turn successful worth from $204bn this twelvemonth to astir $342bn by 2032.

"Yuv is bringing existent integer translation to nonrecreational hairsbreadth colour by combining hardware, colour and bundle into a level that solves existent symptom points for salons and freelancing hairdressers alike," Eric Sävendahl, main astatine Nineyards Equity, said.