July 12, 2024: Foxtale, which claims to be a high performance skincare startup, has secured $18 million in its Series B funding round to increase its digital prowess and unveil newer product categories.
“We are very excited to partner with Panthera Growth Partners as we continue to deepen our relationship with our existing investors. As a young brand, their experience has been incredibly pivotal at multiple times of growing and scaling Foxtale. We hope to continue the relationship of a shared vision as we welcome PGP to Foxtale,” said Romita Mazumdar, Founder, Foxtale.
Investors Back Foxtale Ambitious Growth Plans
“As a growth equity investor focused on building profitable scalable businesses, we are thrilled to partner with Foxtale. Romita and her team have built an incredible business in a short time with a sharp focus on product and innovation. We are excited to support them as they continue on an ambitious growth journey,” said Shilpa Kulkarni, Founder and Managing Partner, Panthera Growth Partners.
Foxtale, established by Romita Mazumdar in 2021 offers reasonably priced products for Indian skin types, to manage problems such as acne, ageing, and hyperpigmentation. The firm claims to have maintained a workforce stability rate of over 50% and a GMV of Rs 172 crore in FY24, owing to its D2C website.
INDIGOEDGE was involved as the exclusive financial advisor to Foxtale in this deal, The targets women aged 23-35 in metropolitan and Tier II and III cities across 100+ Indian cities. It sells its line of products on its website and digital marketplaces such as Nykaa, Amazon, Blinkit, Flipkart, Myntra.
The latest round of investments in the skincare brand was led by Singapore-based Panthera Growth Partners. The round also saw participation from the company’s existing investors, including Matrix Partners India and Kae Capital.
