Get All Access for $5/mo

Skincare D2C Brand Foxtale Raises $4 Million In Pre-Series A Round The funding acquired will be used to expand the company's product range, hire senior vertical heads and scale the business across multiple touchpoints

By Akshit Pushkarna

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Romita Mazumdar, CEO and Founder, Foxtale

D2C skincare brand Foxtale announced the raise of $4 million in its pre-Series A funding round. The funding round was led by Matrix Partners India and saw participation from existing investor Kae Capital along with some notable angel investors.

The startup launched its online D2C platform in December 2021 after raising seed funding in August, 2021. Foxtale was founded in 2020 by Romita Mazumdar and focuses on innovations in formulations and unique ingredient sourcing process to solve skincare problems of women. They claim to have a repeat rate of more than 50 per cent which helped the company to secure a quick pre-Series A round.

The funding acquired will be used to expand the company's product range, make hiring at senior vertical heads and scale the business across multiple touchpoints.

Foxtale has entered the skincare D2C market at a time when it is in an expansion mode. In 2022, two brands operating in this market space, Mamaearth and Purplle, turned unicorns this year. The overall market is expected to reach a valuation of $28 billion by 2025.

Commenting on their decision to invest in the brand, Rajat Agarwal, managing director, Matrix India, said, "We are privileged to partner with Romita and the Foxtale team as they aim to disrupt this market through innovative products and differentiated go-to-market strategies. At Matrix, we continue to be excited about backing new-age consumer brands and Foxtale is our tenth investment in the sector"

Speaking about the funding, Mazumdar, Founder & CEO, Foxtale, said, "Our vision is one: to build a consumer-first brand where growth and product have equal importance. I want to change the perception that self-care should be a luxury restricted to women who have the privilege of time and money while proving that a profitable business can be built with consumers at the centre of the story"

Akshit Pushkarna

Former Features Writer

News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.