D2C Brand FAE Beauty Raises INR 17 Cr For Omnichannel Expansion

D2C beauty and skincare brand FAE Beauty has raised INR 17 Cr (about $2 Mn) in a funding round led by Spring Marketing Capital. The round also saw participation from Titan Capital, Winners Fund, Arihant Patni, and select angel investors.

In a statement, the startup said it will use the funds for product innovation, enter new categories, and strengthen its omnichannel presence by expanding across online marketplaces, quick commerce, and offline retail. 

Founded in 2019 by Karishma Kewalramani, FAE Beauty offers beauty and skincare products, focussing on inclusivity and shade diversity for Indian skin tones. The startup claims that its eyes and lips products carry formulations for hydration and anti-pigmentation. 

FAE Beauty sells its products via Amazon, Nykaa, Myntra, Blinkit, Tira, and offline stores currently. It competes with the likes of Maybelline, Plum, and Sugar Cosmetics.

The development comes at a time when the beauty sector is seeing strong growth as young and affluent Indians seek authenticity, performance, and inclusivity. As a result, a number of D2C brands have emerged over the years to capitalise on this opportunity. The likes of SUGAR, Mamaearth, Pilgrim, and Minimalist gained traction by leveraging social media, influencer-led marketing, and rapid product experimentation.

These startups are also seeing strong investor interest as the D2C beauty segment has become one of the fastest-growing categories within the consumer startup ecosystem. Earlier this year, D2C brand RENEE Cosmetics raised $30 Mn in its Series C funding round at a valuation of $200 Mn. 

Prior to that, SUGAR Cosmetics raised INR 40.99 Cr from existing investors including Anicut Capital, Stride Ventures and L Catterton. 

As per Inc42, India’s D2C space is projected to become a $300 Bn market opportunity by 2030 on the back of continued innovation and the emergence of new players.