D2C skincare brand Foxtale on Wednesday said it has raised USD 18 million (about ₹150 crore) in a funding round led by Singapore-based Panthera Growth Partners and plans to deploy the fresh capital towards category expansion and top-level hiring.
The Series B funding round also saw participation from the company's returning investors Matrix Partners India and Kae Capital. Founded by Romita Mazumdar, the Mumbai-based startup commenced operations in January 2022 and has a vast customer base spanning over 100 Indian cities.
"The fresh round of funds will be deployed towards expanding our digital footprint and introducing newer categories in our portfolio of products. Apart from category expansion, we are also looking to hire some C-suite executives into the team," Mazumdar told PTI.
The young entrepreneur further mentioned that Foxtale is a digital-first business, with 90 per cent of its revenue driven digitally. Foxtale's gross revenue for FY24 stood at ₹175 crore.
For FY25, the homegrown startup expects to clock a gross revenue of ₹400-450 crore, and expects to be profitable by the end of the fiscal, Mazumdar said, adding that the brand is targeting a revenue of ₹1,000 crore in the next 3 years.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.