Internet first D2C skincare brand Foxtale collects $18 million in Series B Funding round
Direct to customer ayurvedic skincare brand Foxtale has recently announced that they have attracted $18 million or approx. Rs. 150 crore in its Series B funding round which was led by Singapore-based Panthera Growth Partners. The Mumbai based startup organized this funding round after two years.
According to the media release of the company,the funding round was also graced by existing investors Matrix Partners India and Kae Capital. IndigoEdge was the financial advisor to Foxtale on this transaction.
The startup intelligence platform TheKredible, reveals that, the skincare brand was valued at around Rs.790 crore or $96 million after receiving the first tranche.
After this funding round the company has raised over $22 million to date. Previously, it had raised $4 million in a pre-Series A round from Matrix Partners and Kae Capital in June 2022 and a seed funding round in August 2021.
The company was founded by, Romita Mazumdar in 2021. The company is a low-cost skincare brand creating products especially customized for the Indian skin types, addressing concerns like acne, aging, and hyperpigmentation. Their products are available in different D2C and B2C platforms like Nykaa, Amazon, Blinkit, Flipkart, and Myntra.
In FY23, Foxtale’s scale grew at a scorching pace to Rs. 13.8 crore against Rs. 20 lakh in FY22. However, the firm’s losses also soared on a similar pace to Rs. 18.59 crore during the fiscal as compared to Rs. 2.48 crore in FY22.
As per the revenue report of the company, it finished FY24 at Rs. 172 crore GMV sales, primarily driven by its website, holding a retention rate of over 50%. On the back of the growth achieved in the past fiscal, Foxtale also looking to the path of profitability by FY25.
The company’s notable competitors are Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several other
According to the media release of the company,the funding round was also graced by existing investors Matrix Partners India and Kae Capital. IndigoEdge was the financial advisor to Foxtale on this transaction.
The startup intelligence platform TheKredible, reveals that, the skincare brand was valued at around Rs.790 crore or $96 million after receiving the first tranche.
After this funding round the company has raised over $22 million to date. Previously, it had raised $4 million in a pre-Series A round from Matrix Partners and Kae Capital in June 2022 and a seed funding round in August 2021.
The company was founded by, Romita Mazumdar in 2021. The company is a low-cost skincare brand creating products especially customized for the Indian skin types, addressing concerns like acne, aging, and hyperpigmentation. Their products are available in different D2C and B2C platforms like Nykaa, Amazon, Blinkit, Flipkart, and Myntra.
In FY23, Foxtale’s scale grew at a scorching pace to Rs. 13.8 crore against Rs. 20 lakh in FY22. However, the firm’s losses also soared on a similar pace to Rs. 18.59 crore during the fiscal as compared to Rs. 2.48 crore in FY22.
As per the revenue report of the company, it finished FY24 at Rs. 172 crore GMV sales, primarily driven by its website, holding a retention rate of over 50%. On the back of the growth achieved in the past fiscal, Foxtale also looking to the path of profitability by FY25.
The company’s notable competitors are Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several other
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