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

EntrackrEntrackr · 3m 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.

Shadowfax appoints three independent directors to its board

EntrackrEntrackr · 5m ago
Shadowfax appoints three independent directors to its board
Medial

Shadowfax, a provider of e-commerce express parcel and value-added solutions, has announced the induction of three distinguished professionals—Bijou Kurien, Ruchira Shukla, and Pirojshaw Sarkari—as independent directors on its board. According to Shadowfax, this strategic move reinforces its commitment to enhancing governance, leveraging domain expertise, and driving operational excellence. Bijou Kurien brings over 35 years of experience in FMCG, consumer durables, and retail. As a founding member of Titan Industries and Reliance Retail, he played a key role in building and scaling multibillion-dollar businesses. He currently advises private equity funds and startups and serves on several listed and unlisted corporate boards. Ruchira Shukla, co-founder and managing partner at Synapses, a VC fund specializing in STEM-led investments in climatetech and healthtech, has over 25 years of experience in venture capital, private equity, strategy consulting, and investment banking across India, the US, and Europe. Previously, she led disruptive technology investments across South Asia at the International Finance Corporation (IFC). Pirojshaw Sarkari (Phil), a chartered accountant by profession, is a seasoned leader in logistics and supply chain management. He was instrumental in establishing UPS in India and later served as the CEO of Mahindra Logistics, driving its growth into one of India’s largest 3PL companies and leading its successful IPO. He also held the position of CEO at Gati Allcargo. Shadowfax states that the onboarding of these independent directors enhances its governance framework and reinforces its focus on operational excellence and innovation, ensuring that it remains at the forefront of India’s evolving e-commerce and D2C landscape. The Bengaluru-based company recently secured Rs 34.2 crore (around $4 million) as a part of a larger Series F funding round. The company has reported a 33.2% year-on-year growth to Rs 1,415 crore in revenue during the fiscal year ending March 2024. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax provides services to a vast network of customers with industry-leading Turnaround Time (TAT) at competitive prices. It boasts a unique crowdsourcing network comprising 125,000 monthly active delivery partners and 3.5 million registered users.

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