Moxie Beauty raises $15 mn in Series A led by Bessemer Venture Partners

The fast-growing haircare brand plans to expand product development and distribution as demand rises for India-specific, salon-grade formulations

Moxie Beauty, a fast-growing Indian haircare brand, has raised $15 million in Series A funding led by Bessemer Venture Partners, with participation from existing investor Fireside Ventures and a group of angel investors. These angel investors include Navin Parwal, Sangeet Agarwal and Arjun Purkayastha, alongside earlier backers such as Shantanu Deshpande, Suhasini Sampath and Rohit Kapoor.

 

The company said the capital will be used to fund product development, build out its team and expand distribution.

 

“We started Moxie to create something that still didn’t exist — clean, salon-grade haircare that’s made specifically for Indian hair textures and weather, which are very unique,” said Nikita Khanna, co-founder of Moxie. “With this raise, we will deepen our R&D capabilities and continue to innovate the next generation of high-performance haircare and styling products for our community.”

 

Moxie’s resonance with its target audience is evident in its growth numbers. They have crossed INR 100 Cr ARR in two years since launch, and have quadrupled monthly revenue in the last one year since November 2024. Moreover, 10 products rank among the bestsellers in their categories across Nykaa and Amazon, and they have an overall retention of over 40 per cent.

 

“Our partnership with Moxie lies squarely on our consumer brands roadmap where we believe that aspirational and discerning consumers will fuel the rise of iconic India-first brands,” said Anant Vidur Puri, partner at Bessemer Venture Partners. “The team’s laser-sharp focus on innovation and formulation excellence is evident in the customer love they have.”

 

Nearly 85 per cent of Indians have textured hair, compared to just 17 per cent in the US. Combined with the hot, humid climate in many parts of India for much of the year, the firm said this creates a uniquely challenging environment that leads to frizz, damage, dehydration and even hair fall. The firm said Gen Z and Gen Alpha consumers feel these challenges even more acutely, as they seek high-performance products and modern styling solutions that traditional brands have not provided.

 

Moxie offers a broad portfolio spanning haircare, maintenance, styling and scalp health. Founded in 2023 by Nikita Khanna and Anmol Ahlawat, the brand was born out of Khanna’s search for clean, high-performance products. It now sells 19 products.

 

Moxie develops its haircare products in-house, drawing on global ingredient science, with nearly half of its raw materials imported. Each formulation can take up to two years to develop, and several products represent category-first innovations, including a dandruff serum that combines exfoliating acids with barrier-strengthening oils.