D2C Skincare Brand Foxtale Raises $18 Million In Series B Round

Foxtale, a direct to consumer (D2C) skincare brand, has raised $18 million (around Rs 150 crore) in a round led by Singapore-based Panthera Growth Partners, as investors continue to back new-age cosmetic companies.

Existing investors like Matrix Partners India and Kae Capital also participated in the round, the company said on June 12.

While $14 million is in the form of primary capital, the remaining $4 million is secondary transactions, giving an exit to early investors. Cred’s Kunal Shah and Cloudnine Hospital’s Rohit MA are a few of the company’s early investors.

The funding comes at a time when investors are lining up to back new-age companies in the skincare space. Deepika Padukone’s 82° East is preparing to raise around $6.3 million from investors and CHOSEN raised $1.2 million from friends and family. In 2023, Pilgrim raised $20 million from Vertex Ventures to double down on skincare categories.