We are discussing D2c Haircare Company Moxie Beauty Secured $2.1 Million in its New Funding Round From Fireside Ventures:
Moxie Beauty is a D2C startup that offers haircare products. The startup secured $2.1 million in its new funding round led by Fireside Ventures. This round saw the participation of several new and existing angel investors, including Samir Singh from Unilever CMO Personal Care, the founder of Yoga Bar Syshsini Sampath, and the founders of Mokobara. Before this round, the company had a valuation of around $4.08 million.
The startup plans to use these fresh proceeds for product development and research and to build a robust and capable team across various functions while expanding its market presence. The investment will help them grow their services and outlets in India. The startup offers hair care products customized according to Indian hair textures. The co-founder of Moxie Beauty, Nikita Khanna, told Businessline in an interview that the brand focuses on providing solutions and hair care products for Indian hair to help them tackle hair-related problems like frizz.
The brand provides solutions after understanding the main cause of the problem. She mentioned that local brands often offer the same solution for all hair types. This is why Moxie was developed; the brand provides hair care products based on all hair textures, such as brushy hair, curly hair, and straight hair.
The company offers personalized hair care solutions and other essentials such as conditioner, serum, and shampoo. The hair care startup aims to help its customers achieve problem-free hair texture with solutions to help tackle frizz and dryness. The startup uses safe and nourishing natural ingredients in its products. The products offered by the company are scientifically tested and expert-formulated. The brand also offers customized haircare routines for its customers according to their hair types. The investment will help the company strengthen its product services.
The haircare startup sells its products via its website, which accounts for 70 percent of the overall sales. The brand also provides its products through online channels like Amazon. The company reported a two-fold increase in its sales in the last two months and is expected to double its current sales by the end of this year. The company plans to expand its distribution channel and sell its products through Nykaa and Blinkit in a few months. The brand has also partnered with some salons across the country.
Conclusion
Moxie Beauty is a hair care product-selling startup that secured Rs 17.3 crore in its funding round. Fireside Ventures led the funding round with the participation of several angel investors, including Samir Singh, Arjun Purkayastha, Sushaini Sampath, and Sangeet Agarwal. The company intends to use this fresh capital to scale up its operations, expand its network and product development, meet market demands, and enhance its platform for a better user experience. The company offers its products via various online platforms, including Amazon. The company provides clinically tested and customized hair care products for Indian hair types. The categories offered by the company include serum, shampoo, and conditioner.
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