Foxtale is a D2C beauty and skincare startup based in Mumbai. The company plans to raise $18 million in its series B round from its existing investors and Panthera Growth Partners. The round will have participation from its existing investors including Matrix Partners India and Kae Capital. This startup is said to be opening its funding round after a gap of two years. IndigoEdge worked as the financial advisor for the company. Here we are talking about D2C skincare startup Foxtale to raise $18 million in its Series B round led by Panthera Growth Partners.
This Mumbai-based D2C Skincare woman-led startup offers customized skincare products for all skin types. The firm is planning to use these fresh proceeds to expand its network and scale up its services to meet public needs accordingly. The startup faces competition from known brands such as Minimalist, Plum, WoW Skin Science, Mamaearth, and more. The startup aims to offer customized and all skin-type skincare products with quality ingredients. The startup data intelligence, TheKredible mentioned the post-allotment valuation of Foxtale to be around $96 million.
Here we are discussing about D2C skincare startup Foxtale to raise $18 million in its Series B round led by Panthera Growth Partners:
The startup has raised over $22 million including the series B round to date. Foxtale previously secured $4 million in its pre-series A round led by Kae Capital and Matrix Partners in 2022 and seed funding round in 2021. Foxtale was founded by Romita Mazumdar to provide low-cost but quality skincare products that match all Indian skin types. The brand considers all skin-related problems including hyperpigmentation, aging, and acne.
The company reported operational growth in FY23 to Rs 13.8 crore while net loss also increased to Rs 18.59 crore in the same duration. However, the firm closed its FY24 GMV sales at Rs 172 crore. The sales were mainly driven by its website with a retention rate of over 50 percent. The company is aiming for profitability in FY25 brands by using this funding amount for expanding its network and enhancing its platform. marketing. The company claims to provide customized and all skin type-suitable skincare products to its clients and customers globally.
CONCLUSION:
A woman-led D2C skincare brand Foxtale is planning to raise $18 million in its series B funding round. The startup plans to secure funding for its series B round from Panthera Growth Partners and existing investors. This D2C Skincare startup is planning to use the fund for its network expansion, and product development. The startup faces competition with well-established brands including Mamaearth, Minimalist, Plum, WOW Skin Science, and more.
The brand provides its products in various e commerce platforms including its website and other marketplace including Nykaa, Myntra, and more. The brand considers all skin-related problems including hyperpigmentation, aging, and acne. This startup is said to be opening its funding round after a gap of two years. IndigoEdge worked as the financial advisor for the company. The firm is planning to use these fresh proceeds to expand its network and scale up its services to meet public needs. The startup aims to offer customized and all skin-type skincare products with quality ingredients.
