Direct-to-consumer (D2C) skincare company Foxtale announced today that it has raised $18 million (about Rs 150 crore) in a Series B fundraising round headed by Panthera Growth Partners, a Singaporean company.
Existing investors Matrix Partners India and Kae Capital also participated in the round. Foxtale’s financial advisor on this deal was IndigoEdge, the firm announced in a press statement.
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To date, the company has raised more than $22 million. Prior to this, in June 2022, it had raised $4 million in a seed fundraising round and in August 2021, it had raised $4 million in a pre-Series A round from Matrix Partners and Kae Capital.
A low-cost skincare company called Foxtale makes solutions for Indian skin types that target issues like hyperpigmentation, aging, and acne. Products from Foxtale can be purchased on its website as well as other online retailers like Nykaa, Amazon, Blinkit, Flipkart, and Myntra.
The size of Foxtale increased at an explosive rate, from Rs 20 lakh in FY22 to Rs 13.8 crore. But the company’s losses also increased at a similar rate, rising to Rs 18.59 crore in the fiscal year from Rs 2.48 crore in the fiscal year prior.
About Foxtale
Founded in 2021 by Romita Mazumdar, Foxtale is a D2C skincare brand that offers targeted solutions to a variety of skin concerns. Foxtale creates high-performing, innovative, and safe skincare that works wonders on your skin.
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