Foxtale raises $30M in Series C to Boost Skincare Innovation & Expansion

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. 

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 says, “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.” 

Commenting on the synergies with KOSÉ Corporation, Romita adds, “I am very  inspired by KOSE Corporation’s President and CEO, Mr Kobayashi. His leadership, spirit  of taking on challenges, and integrity as a leader will always be a part of my guiding 

principle in my journey. After months of spending time together, we are certain that  KOSE’s and Foxtale’s synergistic strengths will place us at unique vantage point of  success and we are committed to creating value for our consumers in India through  innovation and for our shareholders through strong on-ground execution.” 

Comments by Kazutoshi Kobayashi, President & CEO of KOSÉ Corporation, “We are  very happy to have concluded a capital and strategic partnership with fast-growing  Foxtale in the premium mass skin care 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.” 

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.