Foxy

Foxy operates as a social commerce platform within India's beauty and personal care market, targeting Gen Z consumers with a hyper-personalized shopping experience. The company was founded in 2018 by Kartik Sheth, Sachin Singhal, Nikhil Gilani, and Chandranshu Sinha. The founding team possesses extensive experience from firms like McKinsey & Company, Unilever, and successful startups such as OfBusiness and Zomato. Co-founder and CEO, Kartik Sheth, previously served as the CEO of Wynk Limited and Chief Innovation Officer at Airtel, bringing a background in product development and business incubation.

The business model centers on an e-commerce platform that connects customers, influencers, and brands. Foxy generates revenue through the sale of beauty, grooming, and cosmetic products from a wide array of brands, including names like Mamaearth, Garnier, and Maybelline. The platform aims to ensure genuine product sales in a market often populated by counterfeits. A key feature is its social engagement model, which utilizes a network of influencers and user-generated video reviews to guide purchasing decisions. This content-led approach helps consumers discover products tailored to their needs.

Foxy's core product is its mobile application, which serves as an online marketplace for both men and women. The platform distinguishes itself through personalized product discovery tools, such as a selfie-analysis feature for recommending skincare and other beauty items. It also provides consultative services, including personalized skincare advice, to enhance the customer experience. This strategy of combining commerce with targeted curation and expert recommendations allows users to find suitable products for concerns ranging from skincare to hair care. The parent company, EkAnek Networks, has secured significant funding to support this vision, raising a total of $21 million. A notable funding round in September 2020, led by Alpha Wave Incubation, raised approximately $5.4 million, and a more recent round in May 2024 brought in $2.6 million from Lightspeed India Partners. Key investors include Lightspeed, Peak XV, Alpha Wave, and Matrix Partners.

Keywords: social commerce, beauty e-commerce, personal care, Gen Z market, personalized beauty, influencer marketing, online marketplace, cosmetic sales, skincare technology, video reviews, Indian startup, direct-to-consumer, beauty tech, content-led commerce, mobile shopping, EkAnek Networks, Kartik Sheth, beauty and grooming, product discovery, digital retail, venture capital-backed, selfie analysis