D2C Haircare Brand Moxie Beauty Bags $15 Mn From Bessemer, Others

D2C haircare brand Moxie Beauty has secured $15 Mn (about INR 136.2 Cr) in its Series A round led by Bessemer Venture Partners. The round also saw participation from Mokobara cofounders Navin Parwal and Sangeet Agarwal, Reckitt’s senior vice president and MD of Greater China and North Asia Arjun Purkayastha, existing investors Fireside Ventures, Shantanu Deshpande, Suhasini Sampath, Rohit Kapoor, among others.

The startup plans to use the capital for product innovation and research, hiring talent, and expanding distribution channels.

Launched in November 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty offers a range of hair care products which it claims suit the specific needs of Indian hair textures. It offers 19 products, including essentials like shampoo and conditioner and styling products to help tackle dryness and frizz.

It sells its products via its own website, ecommerce marketplaces such as Nykaa and Amazon, and quick commerce platforms like Swiggy Instamart, Blinkit and Zepto.

Prior to this, the D2C brand raised INR 17.3 Cr (about $2.1 Mn) in its seed funding round in July last year. 

Moxie Beauty claims that its annual run rate has crossed INR 100 Cr within two years of its launch. The startup also claims to have seen a 4X growth in revenue in the past year since November 2024. 

The Delhi NCR-based startup competes with startups like Arata, Traya, among others, as well as established names like Hindustan Unilever and more.

Moxie Beauty operates in the fast-growing D2C market, which has seen the emergence of a number of brands over the past few years as consumers demand convenience and niche products.

The D2C segment is expected to have a total addressable market opportunity of $300 Bn by 2030. As a result, investors are actively backing D2C brands to deepen their investments in the category.

For instance, D2C plant-based nutrition brand Earthful raised INR 26 Cr (about $3.1 Mn) in its pre-Series A funding round earlier this month. Prior to that, D2C beauty and skincare brand FAE Beauty secured INR 17 Cr (about $2 Mn) in November for product innovation, entering new categories, and strengthening its omnichannel presence.