Black on Black Investing: Jewel Burks and Collab Capital Make First $500,000 Investment in Hairbella
Black women are some of the most resourceful people ever – and they don’t play about their hair. It’s why Jewel Burks Solomon and Collab Capital have made their first $500,000 investment in Hairbrella, a Black and women-owned company.
In an article on Medium, the serial tech entrepreneur and investor touted the genius of Hairbrella, which was created by Tracey Prickett. The product is conveniently small enough to carry in a purse, while providing necessary protection from the rain, while boasting a design with the Black in mind, according to Burks Solomon.
“We believe Hairbrella can redefine its category of rain and outdoor protective gear by providing alternatives that center Black women in its design decisions,” Burks Solomon wrote.
Pritchett grew the company form its Kickstarter launch to become the best-selling hat on Amazon with over $1 million in sales. According to Burks Solomon, she is on track to do $2 million this year.
Listen to GHOGH with Jamarlin Martin | Episode 43: Jewel Burks
Partpic founder and CEO Jewel Burks discusses how she developed an idea to streamline the purchase, repair and maintenance of parts. Partpic was acquired by Amazon in 2018.
In addition to earning the distinction of being “Amazon’s Choice,” Prickett and Hairbrella have been featured on Good Morning America, The View, Essence, Upscale, Mashable and more.
“The Rain Hat, Reinvented” seems to have lived up to it “Ultimate Hair Protection on the Go” slogan.
Collab Capital’s investment coincides with the launch of the Hairbrella Pro. What’s more is Burkes Solomon said the company has started the “Every Hero Needs a Shield” campaign and will donate one Hairbrella Pro to an essential worker with every purchase.
Burks Solomon said she and Collab Capital are extremely happy to support a Black woman. It’s an example of Black on Black investing done right.
“Our investment in Hairbrella marks the first for Collab Capital and we could not be more excited to have found a company with a founder that perfectly encapsulates the mission of COLLAB,” Burks Solomon wrote. “We are excited to continue on our path of disrupting the wealth gap by supporting incredible Black founders who are building innovative companies.”