Moxie Beauty raises $15 million in Series A round from Bessemer Venture Partners

Moxie Beauty, a haircare brand, has secured $15 million in Series A funding round led by Bessemer Venture Partners.

The round also saw participation from existing investors Fireside Ventures and angel investors, including Navin Parwal and Sangeet Agarwal, cofounders of Mokobara.

The funds will be used to improve products, do research, hire skilled people, and grow distribution channels.

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“Our product assortment can be divided into two parts. One is routines, which we have for curly, wavy hair, frizzy hair, damage repair, and anti-dandruff. The other one is styling products, which are like makeup for your hair,” said Khanna. Moxie Beauty’s portfolio includes 19 products.

“Our partnership with Moxie lies squarely on our consumer brands roadmap, where we believe that aspirational and discerning consumers will fuel the rise of iconic India-first brands,” said Anant Vidur Puri, partner at Bessemer Venture Partners.

About Moxie Beauty

Founded in November 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty creates hair care products made specially for Indian hair types. Its range includes shampoos, conditioners, leave-in treatments, and styling products that help reduce dryness and frizz.

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Within two years of launching, Moxie has crossed ₹100 crore in annual recurring revenue, showing strong growth in India’s competitive beauty market, the company said.

Since November 2023, the brand has increased its monthly revenue four times, mainly due to strong sales on online platforms. Ten of its products are listed as bestsellers on nykaa and Amazon which reflects high customer demand.

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