Foxtale has raised $30 million in a Series C round, partnering with Japanese company KOSÉ to boost research and development

Foxtale, the D2C skincare brand, has raised $30 million (around Rs 250 crore) in a Series C funding round led by Japanese multinational KOSÉ. The round also saw continued participation from Panthera Growth Partners, Z47 and Kae Capital. The company’s partnership with KOSÉ aims to strengthen the global beauty giant’s footprint in India, creating a synergy that combines Foxtale’s D2C expertise, deep understanding of the Indian beauty market and KOSÉ’s global expertise.

“This collaboration aims to redefine beauty standards in India, a billion-dollar market,” said Romita Mazumdar, founder of Foxtale. talking to Business todayMazumdar emphasized that the newly raised funds will be directed to enhancing the company’s capabilities in the field of research and development. “We have always considered research to be the foundation of our brand’s success, and we are committed to continuing our investment in advanced technologies. This will enable us to create more targeted and innovative skincare solutions, tailored to the unique needs of Indian consumers. By pushing the boundaries of innovation, we aim to stay ahead of the curve.” in the market and continue to provide products that make a real difference.

Foxtale, founded in 2021, plans to leverage KOSÉ’s advanced technological prowess in R&D to expand its innovation pipeline. While the brand currently offers 20 SKUs, Mazumdar hinted at the possibility of introducing new product lines. “The funding from KOSÉ will enable the company to scale faster, innovate deeper, and bring effective and accessible skin care to more people across India,” Mazumdar said. “Along with growth, this partnership also represents a step towards fostering stronger global relationships, blending international expertise with local insights.”

Kazutoshi Kobayashi, President and CEO of KOSÉ, highlighted the importance of the partnership. “We are very pleased to enter into a capital and strategic partnership with the rapidly growing company Foxtale in the premium holistic skincare market on our 10th anniversary of our entry into the Indian market. With this partnership, we will take a big step forward in the next decade as we aim to establish a greater presence in the Indian market And expand our business.

Differentiating itself from competitors, Foxtale prioritizes effectiveness and customer-focused solutions over fleeting trends. “Our dedication to quality and efficiency is reflected in our loyal customer base, many of whom come back for more,” Mazumdar noted. She also discussed the lucrative offline channel for the brand, which contributes 10% to revenue and operates with the minimum possible number of delivery days. “Many of our distributors across India operate on a prepaid model, which is in line with our strategy to maintain optimal working capital cycle for the business. Through this approach, we will continue to strengthen our offline presence with discipline and focus on the right metrics.”

Although Foxtale is yet to turn a profit, it posted 150% growth in FY25, doubling last year’s revenue of Rs 300 crore. The majority of its sales – 50% – come from its own platform, while 40% are derived from other online channels, including e-commerce and express commerce. The remaining 10% comes from offline access.

With a strategic roadmap and the backing of a global beauty company, Foxtale is positioned to make big strides in India’s booming skincare market.