D2C skincare brand Foxtale has secured $18 million (approximately Rs 150 crore) in its Series B funding round. The investment was led by Singapore-based Panthera Growth Partners, with participation from existing investors Matrix Partners India and Kae Capital.
Founded by Romita Mazumdar, Foxtale focuses on developing skincare products through extensive research and development tailored to various Indian skin types. The company offers a range of products addressing skin concerns such as acne, ageing, and hyperpigmentation.
Foxtale plans to use the new funds to expand its digital presence and introduce new product categories. The company closed FY24 with Rs 172 crore in gross merchandise value (GMV) sales, driven primarily by its website. The brand boasts a customer retention rate of over 50% and aims to achieve profitability by FY25.
Foxtale’s products are available through its website and various digital marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra, reaching customers in over 100 cities across India.
IndigoEdge acted as the exclusive financial advisor for this transaction.
