The Singapore-based Panthera Growth Partners led the $18 million Series B investment round for the direct-to-consumer skincare firm Foxtale.
The company’s current investors, including Matrix Partners India and Kae Capital, participated in the round as well. The business, based in Mumbai, intends to utilise the money to launch new product categories and increase its online presence.
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Foxtale is a skincare brand that was founded in 2021 by Romita Mazumdar. Its goal is to provide Indian skin types with reasonably priced products that address problems including acne, ageing, and hyperpigmentation.
“As a growth equity investor focused on building profitable scalable businesses, we are thrilled to partner with Foxtale. Romita and her team have built an incredible business in a short time with a sharp focus on product and innovation. We are excited to support them as they continue on an ambitious growth journey,” said Shilpa Kulkarni, Founder and Managing Partner, Panthera Growth Partners.
The brand serves women in urban areas as well as Tier II and III cities in more than 100 Indian cities between the ages of 23 and 35. It sells retail on both its own website and online stores like Nykaa, Amazon, Flipkart, Blinkit, and Myntra.
About Foxtale
Foxtale is a cosmetics and skincare brand that is headquartered in Mumbai.
