Moxie Beauty, a direct-to-consumer (D2C) haircare brand, has successfully raised ₹17.3 crore ($2.1 million) in its latest funding round. Fireside Ventures spearheaded the investment, with contributions from several angel investors. Among the notable investors are Samir Singh, former CMO Personal Care at Unilever and Chair of Unilever Asia; Arjun Purkayastha, Regional CEO at a leading multinational corporation; Suhasini Sampath, Founder of Yoga Bar; and Navin Parwal and Sangeet Agrawal, Founders of Mokobara.
The funds will be used to drive product innovation and research, expand the team, and enhance distribution channels.
Founded in November 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty specializes in salon-quality haircare products designed specifically for Indian hair textures. The brand’s offerings include essential products like shampoo and conditioner, as well as leave-in and styling products aimed at addressing dryness and frizz.
Khanna emphasized the gap in the market: “India is often overlooked in the R&D strategies of global brands. Their products are not formulated for Indian hair types, which differ significantly from Western hair textures due to unique weather and care habits. We have long been told our hair is ‘unruly’ or ‘unmanageable,’ but the issue is not with the hair itself but with unsuitable routines. Moxie’s goal is to provide the right products, tools, and knowledge to help people embrace and care for their natural hair texture.”
Dipanjan Basu, Co-Founder and Partner at Fireside Ventures, expressed enthusiasm about the investment: “Partnering with Moxie Beauty aligns with our fund’s focus on investing in purpose-driven brands catering to the new Indian consumer. Moxie’s innovative approach to addressing the needs of individuals with wavy, frizzy, and curly hair represents a refreshing addition to the growing haircare and beauty industry.”
In related news, Traya, a startup specializing in hair-loss solutions, has recently raised ₹75 crore in equity funding from Mumbai-based private equity firm Xponentia Capital.
The funding landscape for early-stage consumer brands remains vibrant, as evidenced by recent funding rounds. Last month, skincare brand Foxtale Consumer secured approximately $14 million in funding.