Haircare Brand Moxie Beauty Raises $15 Million in Series A Funding Led by Bessemer Venture Partners to Drive Haircare Innovation in India

Moxie Beauty, one of India’s fastest-growing haircare brands, has raised $15 million in Series A funding in a round led by Bessemer Venture Partners. The funding round also saw participation from existing investor Fireside Ventures, along with angel investors including Navin Parwal, Sangeet Agarwal, and Arjun Purkayastha. Earlier angel investors such as Shantanu Deshpande, Suhasini Sampath, and Rohit Kapoor, among others, also continue to back the brand.

The fresh capital will be deployed towards product innovation and research, strategic talent acquisition, and the expansion of distribution channels across India.

India presents a unique haircare landscape, with nearly 85% of the population having textured hair, compared to just 17% in the United States. Coupled with the country’s predominantly hot and humid climate, consumers face persistent challenges such as frizz, dehydration, damage, dandruff, and hair fall. Despite this, tailored solutions for Indian hair types have remained limited—until recently. A new wave of innovation is now taking shape, driven largely by Gen Z and Gen Alpha consumers, who demand high-performance, modern haircare and styling solutions that legacy brands have struggled to offer.

Founded in 2023 by Nikita Khanna and Anmol Ahlawat, Moxie Beauty is positioned at the forefront of this transformation. The brand offers a comprehensive portfolio spanning hair care, maintenance, styling, and scalp health, developed specifically for Indian hair textures and environmental conditions. Inspired by Nikita Khanna’s own search for clean, effective haircare, Moxie has built a portfolio of 19 products, ranging from essential shampoos and conditioners to innovative, new-age formats such as the On The Fly Hair Finishing Stick and Headliner Hair Wax Stick, designed to enhance and style Indian hair with ease.

Innovation remains central to Moxie’s product philosophy. The brand’s formulations leverage advanced ingredient science sourced globally, with nearly 50% of raw materials imported. Each formulation is developed from scratch and rigorously tested to ensure it is fit for purpose—often taking up to two years to perfect a single product. Several of Moxie’s offerings are category-first innovations in India, and in some cases, globally. A notable example is the Dandruff Detox Serum, which combines exfoliating acids with barrier-building oils to deliver a holistic and advanced solution for dandruff management.

Moxie’s strong product-market fit is reflected in its growth metrics. The company has crossed INR 100 crore in ARR within two years of launch and has quadrupled its monthly revenue over the past year since November 2024. Additionally, 10 Moxie products rank among bestsellers in their respective categories on Nykaa and Amazon, while the brand boasts an overall customer retention rate exceeding 40%.

The brand’s competitive advantage extends beyond favourable macro trends. Moxie’s founders have demonstrated a deep understanding of India’s young, digitally native consumers, translating into strong product affinity and repeat usage. This is further underscored by the consistent bestseller rankings of its core shampoo and conditioner range on Nykaa.

Nikita Khanna, Co-founder of Moxie Beauty, said, “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. With this raise, we are excited to deepen our R&D capabilities and continue to innovate the next generation of high-performance hair care and styling products for our community.”

Anant Vidur Puri, Partner at Bessemer Venture Partners, said, “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. The team’s laser-sharp focus on innovation and formulation excellence is evident in the customer love they have. We wish them all the best for the journey ahead.”