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Haircare startup Moxie Beauty raises $15 Mn in Series A led by Bessemer

EntrackrEntrackr ยท 6d ago
Haircare startup Moxie Beauty raises $15 Mn in Series A led by Bessemer
Medial

Haircare brand Moxie Beauty has raised $15 million in a Series A funding round led by Bessemer Venture Partners. Existing backer Fireside Ventures also participated in the round, along with angel investors including Navin Parwal, Sangeet Agarwal, and Arjun Purkayastha. The firm did not disclose its valuation. Earlier in July last year, the Gurugram-based brand had raised Rs 17.3 crore ($2.1 million) in a new round led by Fireside Ventures. Back in April 2023, Moxie had raised $669K in its seed round from Amplify Partners, OTP Venture Partners, and others. The new proceeds will be used to expand its product development and research efforts, hire across key functions, and scale distribution channels. Moxie Beauty said it is working on new product formats and formulations, with a focus on styling and scalp health categories. Founded in 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty focuses on haircare products designed for Indian hair textures and climate conditions. The firm currently has a portfolio of 19 products spanning shampoos, conditioners, styling formats, and scalp care. Its products are sold across online platforms such as Nykaa and Amazon. According to Moxie, it has crossed Rs 100 crore in annual recurring revenue within two years of launch and reported a four-fold increase in monthly revenue over the past year. It also claims that several of its products rank among top-selling items in their respective categories on major marketplaces, with an overall customer retention rate of over 40%. Moxie sources a portion of its raw materials globally and develops formulations in-house. Some products are positioned as category-first offerings in the Indian market. The lead investor Bessemer Venture Partners had closed a $350 million in capital for its second dedicated India fund in March this year. Its recent investments include Graph AI, Seekho, and TransBnk.

Seekho app raises $8 Mn in Series A led by Lightspeed

EntrackrEntrackr ยท 1y ago
Seekho app raises $8 Mn in Series A led by Lightspeed
Medial

Learning-focused OTT platform Seekho has raised $8 million in its Series A round, with Lightspeed leading the investment, according to a LinkedIn post by the companyโ€™s founder and CEO, Rohit Choudhary. The round also saw participation from Elevation Capital. Previously, the Bengaluru-based startup raised $3 million from Elevation and other investors in March of last year. Entrackr exclusively reported about the deal in September. โ€œThis is a testament to the trust our users, team, and investors place in us as we build India's go-to short video platform for Lifelong Learning,โ€ said Choudhary via Linkedin post. While the company did not provide many details about the round, it was expected to be valued at around $45 million. Founded in 2020 by Choudhary, Keertay Agarwal, and Yash Banwani, Seekho helps individuals acquire new skills and knowledge. The platform offers a variety of courses to prepare learners for careers in fields such as parenting, the stock market, Instagram, and education, among others. Targeting audiences in tier-II cities and beyond, Seekho delivers educational content through short 2-5 minute videos in episodic series. The platform provides flexible subscription plans, with weekly and monthly options starting at Rs 149. According to startup data intelligence platform TheKredible, Elevation Capital acquired nearly a 24% stake in the company after the pre-Series A round. All three co-founders held 16.65% stake each as of that round. As per Entrackr's sources, Seekho is expected to dilute 20% of its equity in the Series A financing round.

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