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Unilever Ventures leads $2 Mn round in skincare brand ClayCo Cosmetics

EntrackrEntrackr · 10m ago
Unilever Ventures leads $2 Mn round in skincare brand ClayCo Cosmetics
Medial

ClayCo Cosmetics, a skincare brand launched in March by Niharika Jhunjhunwala, has successfully secured $2 million in a Series A funding round led by Unilever Ventures, marking its first external investment. The funds will be allocated toward expanding its product portfolio, enhancing branding and promotional efforts, driving recruitment, and supporting working capital needs. ClayCo specializes in skincare products that blend natural ingredients with modern technology, drawing inspiration from ancient traditions and global cultures. Its debut collection, “Rituals of Japan,” features products like cleansers, moisturizers, serums, and essences that combine traditional ingredients such as rice, sake, and azuki beans with contemporary innovations. The brand’s flagship product, the Rice and Sake Sleep Mask, has quickly gained popularity, becoming the best-selling night cream on platforms like Amazon, Nykaa, and Tira, with over 100,000 units sold. Looking ahead, ClayCo plans to launch a Moroccan-inspired body care range, aiming to offer affordable luxury through high-performance products inspired by diverse beauty traditions.

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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.

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