Z47 backed Foxtale Secures $30M in Series C Funding

Mumbai, Wednesday, 15th January, 2025: Foxtale, a new-age D2C skincare brand redefining the skincare experience for Indian consumers, has successfully raised $30 million (approximately INR 250 Crore) in its Series C funding round. The round saw participation from Japanese multinational company KOSÉ Corporation, along with continued support from Panthera Growth Partners, Z47, and Kae Capital, which signals strong investor confidence in Foxtale’s vision to revolutionize skincare through science-backed innovation, consumer-first strategies, and a deep understanding of diverse Indian skin types. Z47 first invested in Foxtale in the company’s pre-Series A round in April 2022.

The company has also entered into a strategic partnership with KOSÉ corporation to expand the global beauty leader’s presence in India. This will be a unique partnership in India which will leverage Foxtale’s deep expertise in D2C strategies and its nuanced understanding of the Indian beauty market, paired with KOSÉ’s rich experience in the global market. Together, the two companies aim to redefine beauty standards in India. Foxtale’s commitment to delivering high-quality products aligns seamlessly with KOSÉ’s customer focus and people excellence.

Founded in 2021 by Romita Mazumdar, Foxtale is reshaping the skincare landscape by placing consumer narratives at the center of all its initiatives. Foxtale uses modern science and technology to create innovative and safe formulas that cater to the changing emotional and lifestyle needs of Indian women.

As India’s billion-dollar skincare market continues its rapid expansion, this growth positions Foxtale as a trailblazer and a trusted partner in consumers’ skincare journeys. Together with KOSÉ Corporation, Foxtale will look at an expanded and elevated R&D process for further innovation - fusing KOSÉ’s advanced technological capabilities within R&D and Foxtale’s intrinsic and in-depth understanding of Indian skin.

With a shared commitment to quality, the partnership will enhance product efficacy and elevate self-care experiences, addressing a persistent gap in high-quality beauty offerings in India. This unique synergy positions Foxtale to redefine efficacy standards in one of the fastest-growing markets.

Commenting on the funding, Romita Mazumdar, Founder, Foxtale said, “We are grateful for the continued support from our investors, which reflects their confidence in our mission to redefine skincare for the Indian consumer. This funding by KOSÉ Corporation will enable us to scale faster, innovate deeper, and bring effective and accessible skincare to even more people across India. Beyond growth, this partnership also marks a step towards fostering stronger global relations, blending international expertise with local insights. It’s about building a brand that genuinely resonates with our customers and creates a lasting impact in their skincare journeys.”

Kazutoshi Kobayashi, President & CEO, KOSÉ Corporation, shared, “We are very happy to have concluded a capital and strategic partnership with fast-growing Foxtale in the premium mass Skincare market on the occasion of the 10th anniversary of our entry into the Indian market. Under the leadership of the highly motivated and ambitious Founder and CEO, Ms. Romita Mazumdar, Foxtale’s rapid growth is driven by product development that places importance on dialogue with customers, cutting-edge digital marketing, and strong sales capabilities that are closely aligned with business partners. These are all very attractive factors for us as we move forward in taking on the Indian market. In addition, both companies share many commonalities, such as a consistently thorough customer-centric orientation and a willingness to invest in human resources, giving us confidence that we can take on new challenges together by combining the strengths of both companies toward a shared vision. Through this partnership, we will take a major step forward into the next decade as we aim to establish a greater presence in the Indian market and expand our business.”

Rajat Agarwal, Managing Director, Z47, shared, "We are privileged to continue supporting Foxtale as they redefine skincare for Indian consumers. Foxtale’s remarkable growth, driven by a consumer-first approach and relentless innovation, has positioned them as one of the most promising consumer brands in the country. With solid fundamentals, a clear path to profitability, and a deep understanding of consumer needs, Romita and her team are building a brand that is set to disrupt the market. We are happy to welcome KOSÉ Corporation to the cap table as the company embarks on this exciting new phase. Congratulations to the entire team, and we look forward to newer milestones."

The company has achieved 150% growth in FY25, more than doubling last year’s revenue, driven by its strong focus on D2C through its website. Foxtale’s D2C channel contributes 50% to the brand’s revenue and continues to have a strong repeat rate of 50%. In line with this burgeoning growth and high retention rate, Foxtale aims to achieve profitability by the close of the next financial year. Foxtale has also achieved this scale on the back of just 20 SKUs with clear winners in most skincare subcategories.

The funds will also be directed towards deepening its footprint in existing markets and strengthening its R&D capabilities to drive continuous product innovation in efficacious skincare formulations. Foxtale remains dedicated to empowering individuals to embrace effective and effortless skincare as part of their everyday lives.

About Foxtale:
Foxtale is a skincare brand that started in 2021 with a mission to make high-performing products that work wonders for Indian women. Led by Romita Mazumdar, Foxtale is reshaping the skincare landscape by placing consumer narratives at the center of all its initiatives. Foxtale uses modern science and technology to create innovative and safe formulas that cater to the changing emotional and lifestyle needs of Indian women. Foxtale aims to create an ecosystem that champions high-performance, innovation and growth with a clear focus on creating a culture that gives agency to women’s voices, ideas, and achievements.

Foxtale has grown to serve over 15 lakh happy customers, offering a diverse portfolio of 20 skincare SKUs. In 2024, the brand expanded into a new category with the launch of its Bodycare range. Backed by a consumer panel of over 11,000 women from across India participating in product trials, Foxtale ensures every product meets the highest standards. With availability on all key marketplaces and in 1,000+ stores nationwide, Foxtale continues to make its mark as a trusted name in beauty and personal care. Website: https://foxtale.in.
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About Z47:

Founded in 2006, Z47 invests in early-stage companies targeting the consumer and enterprise markets. The fund has invested in several market-leading consumer-focused companies such as Country Delight(D2C dairy & fresh food), Mosaic Wellness (Health & wellness digital platform), W For Woman (Ethnic fashion), The Whole Truth (Clean label food), DaMENSCH (Men's apparel), Open Secret ('Un-junked' snacks), Aramya (Ethnic fashion) and Hyou (Fine jewelry). Other marquee current and past investments include Dailyhunt, Five Star Business Finance, OfBusiness, Ola, Ola Electric, OneCard, Oxyzo and Razorpay, among others. The firm has advisory offices in Bangalore, Gurgaon and Mumbai. Further information is available at www.z47.com.

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‍For more information, please contact:‍pr@z47.com