NEW DELHI: Hair-care company Moxie Beauty is in advanced stages of raising around US $15 million (≈ ₹130 crore) in a fresh funding round led by global investor Bessemer Venture Partners, sources close to the deal said.
Existing backers such as Fireside Ventures are expected to participate, underscoring growing investor confidence in India’s burgeoning premium personal-care market.
Moxie plans to channel the funds into R&D and product innovation, expand manufacturing capacity, strengthen both online and offline retail presence, and boost branding and influencer-led marketing.
The move comes amid a surge in India’s beauty and personal-care industry, with the domestic market valued at roughly US $28-30 billion in 2024, and rising demand for specialised hair-care, scalp-health, and treatment-based products. Market analysts highlight a clear shift in consumer preference — from mass-market shampoos and soaps to premium, efficacy-driven, dermatology-backed hair and skin solutions.
Premium Brands Lead the Charge
Flagship home-grown brands such as Mamaearth have already cemented a strong foothold in the premium skin- and hair-care segment.
In FY24, its parent company Honasa Consumer Ltd. reported a 29 per cent increase in revenue from operations to ₹1,920 crore, and registered a net profit of ₹111 crore — a sharp turnaround from previous years.
In FY25, the company’s revenues grew further to ₹2,145.7 crore (approx.), reflecting sustained traction for “clean beauty” and natural-ingredient products.
At the same time, heritage-Ayurvedic and herbal brands such as Forest Essentials, Himalaya Herbals and Biotique continue to enjoy widespread appeal among consumers seeking natural, chemical-free skincare and hair-care products.
Forest Essentials, in particular, features among India’s top cosmetic companies, riding the broader growth in herbal beauty — a segment that saw the Indian herbal beauty and skincare market valued at about US $3.1 billion in 2024, and is projected to reach around US $10.3 billion by 2033.
As Moxie embarks on its upward journey, the success of these legacy and premium brands underscores the expanding headroom in India’s beauty-care sector — especially in urban centres where evolving consumer tastes, rising incomes and heightened awareness about hair- and skin-health are driving demand for specialised, high-quality products.
