Moxie Beauty Raises INR 17.3 Cr in Funding Round by Fireside Ventures

Moxie Beauty, an emerging D2C haircare brand based in Gurugram, has
raised INR 17.3 crore (USD 2.1 million) in funding, led by Fireside Ventures. The round also saw
participation from a distinguished group of angel investors, including Samir Singh (Ex Unilever CMO
Personal Care, Chair Unilever Asia), Arjun Purkayastha (Regional CEO at a top MNC), Suhasini
Sampath (Founder, Yoga Bar), Navin Parwal, and Sangeet Agrawal (Founders, Mokobara).

Launched in November 2023 by founders Nikita Khanna and Anmol Ahlawat, Moxie Beauty makes
salon-quality hair care products that are tailored for Indian hair textures. Besides essentials like
shampoo and conditioner, their range includes leave-in products and styling products that help
tackle dryness and frizz.

“India is not on the R&D roadmap for most global brands - they don’t formulate their products for
Indian hair types, weather or habits, which are very different from Western ones,” said Khanna. “For
so long we have been taught to see our hair as ‘unruly’ and ‘unmanageable’ – but there is no such
thing as bad hair, only unsuitable routines that were not made for us. Moxie’s mission is to empower
people with the right products, tools, and knowledge to care for and feel confident in their natural
hair texture,” she added.

“We are very excited to partner with Moxie Beauty. It ties in well with our fund thesis of investing in
purposeful brands that are innovating for the new Indian consumer. Moxie’s approach to building
products suited for Indians who have wavy, frizzy, and curly hair is a refreshing innovation in the
large and growing hair care and beauty space,” said Dipanjan Basu, Co-Founder and Partner at
Fireside Ventures.

The funds from this round will be strategically allocated toward product innovation and research,
hiring talent, and expanding distribution channels. With its innovative product offerings and
empowering mission, Moxie Beauty is well-positioned to capture a significant share of India’s
haircare market, which is valued at USD 5 billion.