Haircare Brand Moxie Beauty Raises USD 15 Mn in Series A Round The round was led by Bessemer Venture Partners, with Fireside Ventures and angels Navin Parwal, Sangeet Agarwal and Arjun Purkayastha, alongside backers Shantanu Deshpande and Rohit Kapoor.
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New Delhi-based haircare brand Moxie Beauty has raised USD 15 million in a Series A funding round led by Bessemer Venture Partners.
Existing investor Fireside Ventures also participated in the round along with angel investors Navin Parwal, Sangeet Agarwal and Arjun Purkayastha. Earlier backers include Shantanu Deshpande, Suhasini Sampath and Rohit Kapoor.
It raised INR 17.3 crore in July last year in a funding round led by Fireside Ventures.
The fresh capital will be used to support product innovation, research and development, hiring across functions and expansion of distribution channels.
Founded in 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty focuses on developing haircare solutions tailored for Indian hair textures and climate conditions. The brand currently offers a portfolio of 19 products across hair care, maintenance, styling and scalp health. Its range includes shampoos, conditioners and newer formats such as hair finishing sticks and wax sticks designed for quick styling needs.
The company claims that nearly 50 percent of its raw materials are imported, and formulations are developed in house from scratch, often taking up to 2 years to complete. Some products are positioned as category first offerings in India, including a dandruff treatment serum that combines exfoliating acids with barrier strengthening oils.
The company claims strong early traction, having crossed an annual run rate of over INR 100 crore within 2 years of launch. It reports a 4 times increase in monthly revenue over the past year, with several products ranking among bestsellers on platforms such as Nykaa and Amazon. The brand also reports an overall customer retention rate of more than 40 percent.
The funding comes at a time of continued investor interest in India's beauty and personal care sector, with recent rounds raised by Bengaluru-based haircare startup iluvia (Series A, undisclosed), Mumbai-based skincare brand Foxtale (USD 30 million), Deconstruct (INR 65 crore) and Pilgrim (INR 200 crore).
Moxie Beauty competes with brands such as Mamaearth, Wow Skin Science, Plum, Bare Anatomy and Pilgrim.
