Direct-to-consumer (D2C) skincare company Foxtale has raised $30 million, or roughly Rs 250 crore, in a funding round headed by Kose Corporation, a Japanese manufacturer of cosmetics. This round also included participation from current investors Panthera Growth Partners, Kae Capital, and Z47 (formerly Matrix Partners India).
After a $18 million round in June 2024, this is Foxtale’s second round of funding in as many years.
With the additional funding, the business intends to improve its online visibility and diversify its product line. Additionally, it has formed a strategic alliance with KOSÉ Corporation to increase the global leader in beauty’s footprint in India.
Established in 2021 by Romita Mazumdar, Foxtale is a reasonably priced skincare line that specializes in products for Indian skin that address problems like hyperpigmentation, aging, and acne. Both its website and a number of online marketplaces, such as Nykaa, Amazon, Blinkit, Flipkart, and Myntra, sell its products.
The company claims that its website generates 50% of its revenue, online marketplaces and quick commerce platforms account for 40%, and offline sales channels account for the remaining 10%.
With 20 skincare SKUs, Foxtale currently serves more than 15 lakh customers. Supported by a panel of 11,000 women, it introduced a bodycare line in 2024. The brand can be found in more than 1,000 stores across the country and on major marketplaces.
Foxtale’s revenue more than doubled from FY25, a 150% increase from the year before. The company hopes to turn a profit by the end of the following fiscal year thanks to its quick growth and solid client retention. Only 20 SKUs in a targeted product lineup, with exceptional performers in the majority of skincare subcategories, have contributed to this remarkable growth.
Among the well-known competitors of Foxtale are Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and a number of others.
