Foxtale raises $30 mn in Series C round led by Japanese cosmetics major Kose Corp

D2C skincare brand Foxtale has raised $30 million (~₹250 crore) in a Series C funding round, which saw participation from Japanese multinational cosmetics and personal care company KOSÉ Corporation, along with continued support from Panthera Growth Partners, Z47, and Kae Capital. According to a disclosure by Kose in the Tokyo Stock Exchange, this translates into a 10 percent stake in Foxtale Consumer Private Limited. In addition to the fundraise, both companies have also entered into a strategic partnership to expand Kose’s presence in India.

Kose also added in its statement, that it will going forward, it will provide support for the formulation and product development of foxtale based on its knowledge of R&D and product development, while also gaining knowledge of marketing in the Indian market from Foxtale, thereby further strengthening KOSÉ’s business in India and accelerating its development. Kose will also look to set up a joint venture in India with Foxtale to explore joint businesses.

Founded in 2021 by Romita Mazumdar, Foxtale uses modern science and technology to create formulas that cater to the changing needs of Indian women and currently has only 20 SKUs. The company says it has seen a 150% growth in FY25. Speaking to CNBC-TV18, Mazumdar said that Foxtale will close FY25 with gross revenues of ₹330-350 crore, adding that the companyis currently profitable post all marketing expenses, and expect to achieve Ebidta profitability in FY26. The larger goal, Mazumdar says, is to build ₹1000 crore company in 3-4 years

Commenting on the funding, Romita Mazumdar, Founder, Foxtale says, “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. 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.”

The funds will also be directed towards deepening its footprint in existing markets and strengthening its R&D capabilities to drive product innovation in efficacious skincare formulations.

KOSÉ has been present in the Indian market since 2013 when it first established a local subsidiary, KOSÉ Corporation India Pvt. Ltd., after which it launched an exclusive local skincare brand ‘Spawake’ in 2014 that was developed to meet the needs of the Indian market.

Kose says, through the investment in Foxtale it aims to contribute to the growth of Foxtale while also utilizing Foxtale’s marketing knowledge and expertise through a strategic partnership to further improve KOSÉ’s presence in the Indian market.

“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. 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,” Kazutoshi Kobayashi, President & CEO of KOSÉ Corporation said.