🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

D2C skincare brand Foxtale scoops up $18 Mn led by Panthera Growth Partners

EntrackrEntrackr · 1y ago
D2C skincare brand Foxtale scoops up $18 Mn led by Panthera Growth Partners
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, has today announced raising $18 million (approx. Rs 150 crore) in its Series B funding round, led by Singapore-based Panthera Growth Partners. The funding round came after a gap of two years for the Mumbai-based startup. The round also saw participation from existing investors Matrix Partners India and Kae Capital. IndigoEdge was the financial advisor to Foxtale on this transaction, the company said in a press release. Entrackr had reported about the first tranche of this round in March As per the startup intelligence platform TheKredible, Foxtale was valued at around Rs 790 crore or $96 million (post-allotment of the first tranch). Including this round, the company has raised over $22 million to date. Previously, it had raised $4 million in a pre-Series A round from Matrix Partners and Kae Capital in June 2022 and a seed funding round in August 2021. Founded by Romita Mazumdar in 2021, Foxtale is a low-cost skincare brand creating products tailored to Indian skin types, addressing concerns like acne, aging, and hyperpigmentation. Foxtale’s products are available on its website and other marketplaces such as Nykaa, Amazon, Blinkit, Flipkart, and Myntra. During FY23, Foxtale’s scale grew at a scorching pace to Rs 13.8 crore against Rs 20 lakh in FY22. However, the firm’s losses also soared on a similar pace to Rs 18.59 crore during the fiscal as compared to Rs 2.48 crore in FY22. As per the company, it closed FY24 at Rs 172 crore GMV sales, primarily driven by its website, holding a retention rate of over 50%. On the back of the growth achieved in the past fiscal, Foxtale also looking to the path of profitability by FY25. Foxtale competes with well-established players like Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several others.

Related News

D2C skincare brand Foxtale scoops up $14 Mn in new round

EntrackrEntrackr · 1y ago
D2C skincare brand Foxtale scoops up $14 Mn in new round
Medial

D2C skincare brand Foxtale has raised Rs 119.5 crore (approximately $14 million) in a new round from PGP India Growth, Panthera Growth, Matrix Partners, and Beacon Trusteeship. This is the first funding round for the Mumbai-based firm in 2024 and the second in the past two years. Previously, the startup had raised $4 million in a pre-Series A round from Matrix and Kae Capital in June 2022 and a seed round in August 2021. Founded by Romita Mazumdar in 2021, Foxtale is a low-cost skincare brand that launched four basic products. Its product portfolio covers anti-aging, acne control and hydration aspects among others. According to the startup data intelligence platform TheKredible, the three-year-old company has been valued at around Rs 790 crore or $96 million (post-allotment of the new round). Foxtale grew at a scorching pace in the last fiscal year and posted Rs 13.8 crore in operating revenue against Rs 20 lakh in FY22. However, the firm’s losses soared 7.5-fold to Rs 18.49 crore during the fiscal year ending March 2023 as compared to Rs 2.48 crore in FY22. The company claimed that it hit break even in Q2 in FY24 and intends to become a Rs 1,000 crore brand in the next five years. Foxtale will compete with well established players like Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist and several others. Foxtale’s funding is good news for the D2C skincare ecosystem which didn’t see much funding activities in the past year. Sugar has been eyeing to score around $100 million in secondary and primary capital but the deal is yet to be materialized.

D2C skincare brand Foxtale raises $30 Mn

EntrackrEntrackr · 7m ago
D2C skincare brand Foxtale raises $30 Mn
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, has secured $30 million (approximately Rs 250 crore) in a funding round led by Japanese beauty products company Kose Corporation. Existing investors Z3Partners (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners also participated in this round. This marks Foxtale's second capital infusion within a year, following an $18 million round in June 2024. The company plans to utilize the fresh capital to expand its product range and enhance its online presence. Foxtale, founded by Romita Mazumdar in 2021, is an affordable skincare brand focused on products designed for Indian skin, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on its website and various marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. According to the company, 50% of its revenue comes from its website, 40% from online marketplaces and quick commerce platforms, and the remaining 10% from offline sales channels. Founder and CEO Mazumdar claimed that Foxtale is on track to surpass Rs 300 crore in gross revenue in the current fiscal year. Foxtale competes with well-established players like Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several others.

Decoding Foxtale’s Series C funding round, latest valuation and captable

EntrackrEntrackr · 4m ago
Decoding Foxtale’s Series C funding round, latest valuation and captable
Medial

Foxtale, a direct-to-consumer (D2C) skincare brand, recently raised Rs 250 crore (approximately $30 million) in its Series C funding round, led by Japanese beauty products company Kose Corporation with the participation of existing investors—Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners. Entrackr has gone through its regulatory filings to decode details such as round break-up, shareholding, and current valuation. The board at Foxtale has issued 20 equity shares and 18,847 Series C compulsory convertible preference shares at an issue price of 1,32,237 each to raise Rs 250 crore or $30 million. Kose Corporation led the round with an investment of Rs 153 crore (approximately $18 million), followed by Z47 (formerly Matrix Partners India), which contributed Rs 45.95 crore (around $5.4 million). Panthera Growth Partners and Kae Capital, through the Kael Opportunities Fund, pumped in Rs 29.5 crore ($3.5 million) and Rs 21 crore ($2.5 million), respectively. According to Fintrackr’s estimates, the company’s post-money valuation has surged to Rs 1,530 crore (approximately $180 million), nearly doubling from its previous valuation of Rs 795 crore (around $93.5 million). Following the fresh allotment of the Series C round, Z47 (formerly Matrix Partners India) remains the largest external shareholder with a 19.64% stake, followed by Kae Capital at 17.35% and Panthera Growth Partners at 12.62%. New investor Kose Corporation now holds a 10% stake in the company. Founder and CEO of the company, Romita Mazumdar holds a 34.38% stake. Founded in 2021, Foxtale is an affordable skincare brand that develops products specifically formulated for Indian skin types, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on the brand’s official website as well as popular marketplaces including Nykaa, Amazon, Blinkit, Flipkart, and Myntra. For the fiscal year ending FY24, the Mumbai-based D2C brand recorded a nearly six-fold increase in operating revenue to Rs 83 crore from Rs 14 crore in FY23. However, the company also reported a loss of Rs 55 crore during FY24.

NuVentures backs traditional snacks brands Adukale

EntrackrEntrackr · 1y ago
NuVentures backs traditional snacks brands Adukale
Medial

Omni-channel FMCG brand Adukale has raised funds from early-stage backer NuVentures as part of its ongoing round. Earlier this year, the Bengaluru-based firm had raised Rs 11 crore in a round led by Force Ventures with participation from Aanya Ventures, Accel’s partner Subrata Mitra, among others. The ready-to-eat and ready-to-cook brand plans to scale its products and has recently opened up a new 20,000 square feet production facility on the outskirts of Bengaluru, which will increase production capacity over fourfold. Founded in 2009 by Kaushik, Adukale claims to offer over 75 products, created with natural, preservative free ingredients. The brand has established a distribution network across Karnataka having presence across super markets. Adukale also has 20 experience centres in Bengaluru and Mysuru and a growing e-commerce presence. It currently has a portfolio of around 60 products, which includes a diverse selection of masalas, chutneys, instant mixes, snacks, and sweets. NuVentures has been actively looking to back D2C brands and help them scale. It had earlier invested in skincare brand Foxtale. Its portfolio companies include Mu Sigma and Acko, PocketAces, Foxtale, Geist Beer and Third Wave Coffee, among others.

Download the medial app to read full posts, comements and news.