Foxtale, a newly launched D2C skincare brand has raised a seed funding round of INR 5.5 crore ahead of its entry into the market. Founded in 2020 the brand is the latest entrant in the booming skincare industry in India.
Foxtale is the brainchild of Romita Mazumdar, a UCLA graduate and a former investment banker from San Francisco with a vision to make innovative result-first skincare products accessible to all women in India. A consumer-first brand, Foxtale is driven to bring disruption in the skincare space through innovations in formulations and unique ingredient sourcing process.
Ms. Romita Mazumdar, Founder, Foxtale said, “As an Indian brand, Foxtale aims to solve skincare problems that Indian women are exposed to. We are launching 4 products by this new year that tackle the effects of climatic conditions and pollution on Indian skin types specifically. We understand the market through our consumer’s experiences and this unique approach makes us one of the most promising brands to enter the industry. Foxtale is building the first proof of scale to set foot in the market and we are optimistically expecting to reach 1million Indian women in our first year of operation.”
Speaking on the investment, Rohit M A, CoFounder, Cloudnine Group of Hospitals said, “The most important aspect to any product is the research it is based on and I liked the fact that Romita and her team come with an extensive thesis and couple that with the passion to pursue a successful enterprise creation. I am excited for them with the prospects ahead and the customer delight that they will bring forth.”
Capturing Foxtale’s business potential, Sunitha Viswananthan, Partner at Kae Capital commented “The Indian skincare market is growing rapidly with consumers looking for alternatives to existing products. Foxtale is tapping into this $2BN market with their highly efficacious products. We are excited to partner with them on this journey as they build India’s category-defining skincare brand.”
Foxtale has spent over a year in research, product formulations, tests and trials to develop the first range of products. The team includes India’s leading scientists in the cosmetics space. Headquartered in Bombay, the brand is planning on expanding to multiple online outlets to ensure pan-India accessibility for all consumers.