Moxie Beauty, a haircare brand, has raised $15 million in a Series A funding round led by Bessemer Venture Partners. Existing investor Fireside Ventures also joined the round, along with angel investors such as Navin Parwal and Sangeet Agarwal, who are cofounders of Mokobara.
The company plans to use the funding to improve its products, invest in research, hire talented professionals, and expand its distribution and sales channels.
“Our product assortment can be divided into two parts. One is routines, which we have for curly, wavy hair, frizzy hair, damage repair, and anti-dandruff. The other one is styling products, which are like makeup for your hair,” said Khanna. Moxie Beauty’s portfolio includes 19 products.
“Our partnership with Moxie lies squarely on our consumer brands roadmap, where we believe that aspirational and discerning consumers will fuel the rise of iconic India-first brands,” said Anant Vidur Puri, partner at Bessemer Venture Partners.
Moxie Beauty was founded in November 2023 by Nikita Khanna and Anmol Ahlawat. The brand focuses on creating hair care products specially designed for Indian hair types.
Its product range includes shampoos, conditioners, leave-in treatments, and styling products that help reduce dryness and frizz, making hair easier to manage.
Within just two years of launch, Moxie has crossed ₹100 crore in annual recurring revenue, showing strong growth in India’s highly competitive beauty market.
Since November 2023, the brand has increased its monthly revenue four times, mainly driven by strong online sales. Ten of its products have become bestsellers on platforms like Nykaa and Amazon, showing high demand and strong customer interest.
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