D2C skincare brand Foxtale raises Rs 150 crore led by Panthera Growth Partners

New Delhi, June 12 (IANS) D2C skincare brand Foxtale on Wednesday said that it raised about Rs 150 crore in its Series B round of funding, led by Singapore-based Panthera Growth Partners (PGP).

The round also saw participation from the company’s existing backers Matrix Partners India and Kae Capital.

"We hope to continue the relationship of a shared vision as we welcome PGP to Foxtale. The fresh round of funds will be deployed towards expanding our digital footprint and introducing newer categories in our portfolio of products," Romita Mazumdar, Founder, Foxtale, said in a statement.

Foxtale provides a targeted collection of skincare products to address specific skin concerns, including acne, ageing, hyperpigmentation and more.

"Romita and her team have built an incredible business in a short time with a sharp focus on product and innovation. We are excited to support them as they continue on an ambitious growth journey," said Shilpa Kulkarni, Founder and Managing Partner, Panthera Growth Partners.

The company closed FY24 at Rs 172 crore GMV sales, primarily driven by its D2C website foxtale.in. Foxtale holds a high retention rate of over 50 per cent, which validates the consumer love and consequent growth that the company has seen.