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Foxtale Secures $30M in Series C Funding; Plans Expansion and Profitability by FY End

Foxtale

Foxtale, a direct-to-consumer (D2C) skincare brand, has successfully raised $30 million (approximately Rs 250 crore) in a Series C funding round led by Japanese cosmetics company KOSÉ Corporation. This round also saw participation from existing investors Panthera Growth Partners, Z47, and Kae Capital.

In addition to the funding, Foxtale has entered into a strategic partnership with KOSÉ Corporation, aiming to bolster the Japanese firm’s presence in India. The newly raised funds will primarily be used to enhance the company’s research and development (R&D) capabilities and to expand its footprint across the country, said Romita Mazumdar, Founder and CEO of Foxtale, in an interview with Moneycontrol on January 15.

“We are roughly at a scale of Rs 300-350 crore in gross revenue and have grown 150 percent over last year,” Mazumdar shared. “We will also have category expansion over the next one or two years. Currently, we are only in skincare with around 18-20 SKUs (stock-keeping units) and limited SKUs in body care.”

This milestone comes approximately nine months after Foxtale secured $18 million (around Rs 150 crore) in funding, led by Singapore-based Panthera Growth Partners. Founded in 2021 by Mazumdar, Foxtale prides itself on developing 100 percent of its product offerings in-house, with each product taking approximately 18-24 months to develop. Since its inception, the company has served over 15 lakh customers.

Like many emerging D2C brands, Foxtale relies heavily on online distribution channels, with over 50 percent of its revenue generated through its own website. The brand has also experienced notable success through quick commerce platforms, which Mazumdar described as a rapidly growing and profitable segment.

“For us, quick commerce is growing extremely fast. It is profitable, and we feel confident in continuing to scale sub-categories that we have already built through our other digital platforms,” Mazumdar explained. “Most of our products on quick commerce channels usually grow 6x-7x within six months of launch.”

Foxtale aims to achieve profitability by the end of the next financial year. This ambitious growth plan comes at a time when many D2C brands are grappling with a sector-wide slowdown and facing consolidation. Nonetheless, the company remains optimistic about its trajectory, fueled by strategic partnerships, innovative R&D, and its ability to adapt to market trends.

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