Haircare startup Moxie Beauty has secured $15 million in Series A funding, led by Bessemer Venture Partners, showing that global investors are still interested in India’s direct-to-consumer (D2C) market. Fireside Ventures and angel investors like Navin Parwal, Sangeet Agarwal, and Arjun Purkayastha also participated.
Moxie Beauty, based in Gurugram and founded in 2023 by Nikita Khanna and Anmol Ahlawat, focuses on haircare products designed for Indian hair types, weather, and styling needs. This funding follows a $2.1 million round led by Fireside Ventures last July and a $669K seed round in April 2023. While the company’s valuation hasn’t been revealed, the Series A round suggests that investors are confident in the brand’s growth.
The new funds will go toward product research and development, hiring, and growing distribution channels, which is a common strategy for fast-growing D2C brands in India. Moxie Beauty is also investing in new product formats, with a focus on styling and scalp health.
Moxie Beauty currently offers 19 products, including shampoos, conditioners, styling products, and scalp care solutions. Its products are available on Nykaa and Amazon, showing a strong strategy that combines brand storytelling with marketplace reach. The brand develops its own product formulas and sources materials globally to maintain control over quality and how the products perform.
Moxie Beauty reports that it has surpassed ₹100 crore in annual recurring revenue within two years of launching, with a four-fold increase in monthly revenue over the past year. The company also states that several of its products are top sellers in their categories, with a customer retention rate above 40%.
This funding comes as D2C personal care brands are seeing increased demand due to changing consumer behaviors and a focus on ingredient-based products. Moxie’s focus on Indian hair types and styling needs fits well with current D2C market trends, where relevance and performance are key.
For Bessemer Venture Partners, this investment adds to its growing presence in India’s startup scene. The firm recently closed a $350 million fund for India and has supported companies like Graph AI, Seekho, and TransBnk.
As Moxie Beauty moves forward, the company is expected to strengthen its market position, expand its product line, and reinforce its brand recognition. With solid revenue, repeat customers, and new funding, Moxie Beauty is becoming a notable brand in India’s D2C market.
