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Month: June 2022

Unravelling the Portfolio: Traya Health

Posted on by Kae Team

Brief about Traya
A one-product approach never works on hair loss or any other chronic condition. Traya combines the best of Ayurveda, Allopathy and Nutrition containing proven results to identify the type of hair loss, stage and the root cause behind it. Based on this, each person gets a doctor-prescribed treatment plan and a hair coach who guides the customer and tracks their progress.

Vision and Mission
Traya was started with just one goal in mind- to deliver visible hair growth results. We did everything from product and process to tech, keeping in mind the efficacy of the treatment. Back in 2019, Traya was sold to the first 55 customers through a basic landing page and they took the proprietary formulations (all-natural herbs + dermatologist prescribed + diet). They were closely observed for 4 months and a good 90% of them started seeing visible results. That is when we decided to launch a brand and seek investment. We knew we had hit a gold mine.

Genesis
Traya is an outcome of the cofounders’ personal journey as a couple. About 3 years ago, co-founder Altaf struggled with a number of health issues including uncontrollable thyroid levels accompanied by accelerated hair loss (he faces genetic male pattern hair loss) and weight gain, which was compounded by his hectic lifestyle. He went from doctor to doctor and couldn’t do much about his situation. We researched more and explored ayurveda and naturopathy diets. The three together changed our lives. Altaf’s hair regrew and his thyroid came under control. Even his endocrinologist was surprised. Even then the cofounders had no intention of starting a company. Almost a year later, by helping a lot of friends and family with chronic health issues including hair loss, they decided to take this space seriously. They realised that both of them were extremely passionate about solving chronic health issues that a millennial faces. On further research, hair loss was chosen as a disease line to begin. It was the most crowded but also the most corrupt. As they researched more on the diseases, its types, they realised nothing out in the market can ever work. The issue is considered cosmetic but it is internal. Thus, they took up the challenge to change the way the hair loss industry works.

Market Opportunity

The current hair fall market in India is broken. Many have a product-centric approach which is clearly not effective in delivering the results. Hair fall is a problem that needs to be addressed holistically and requires customization as per every individual’s root cause of hair fall. Out of the entire serviceable market, 125 million adults in India directly benefit from Traya’s offering and have the ability to afford it. The $12.5 Billion hair loss solutions market is up for grabs and Traya is aggressively growing to capture the entirety of the market while also changing the way a hair fall solution is approached and the results speak for themselves. In addition to the direct solutions to hair fall, Traya is also targeting the next line of products including anti-dandruff and cuticle damage.

5-year plan

We want to be synonymous with the terms hair fall and hair health and be known for our efficacy and honesty. On the product side, we are in research for no side effects and high-efficacy solutions for other hair concerns.

Portfolio Fundraise Update: Foxtale raises $4M in a pre-series A round

Posted on by Kae Team


Indian D2C skincare brand, Foxtale, has raised $4M in its pre-Series A funding round led by Matrix Partners India with participation from existing investor Kae Capital and some notable angel investors.

The Mumbai-based startup raised its seed round in August last year. The startup launched in December 2021, and found an early product-market fit and a repeat rate of more than 50%, which led to a quick pre-Series A round.

This round of funding will be used in expanding the product range, hiring senior vertical heads and in scaling the business across multiple touch points.

The culture of self-care is still very nascent in India. While skincare brands have existed for a long time, they either fall in the category of herbal and ayurvedic, ineffective yet massy or luxury and expensive. Foxtale wants to bridge this gap between efficacy and affordability, making skincare, and by extension, self-care, accessible to all. To understand what the modern Indian woman is looking for in skincare, the Founder and CEO, Romita Mazumdar conducted interviews with more than 3000 women. From all those insights and the expertise of a team of brilliant chemists and formulators, Foxtale was born.

The brand’s decision to launch with 4 basic products, a cleanser, vitamin C serum, moisturizer and sunscreen, was a bold move, as most other brands rely on starting with a wide range of SKUs. However, Foxtale’s approach to skincare is guided by what its consumers need. It’s these 4 product categories that people use the most and need better formulations for. After perfecting this 4-step routine, Foxtale is now ready to launch more targeted solutions to the users’ skincare issues.

Efficacy is one of the biggest selling points of Foxtale. This is ensured by their formulation team, headed by one of the most lauded names in Indian cosmetics and personal care products, Dr. Ramesh Surianarayanan. He has pioneered many acclaimed products in his previous stints at Himalaya and Unilever and he now extends his expertise to Foxtale. The product development engine at Foxtale keeps its user community at the centre. From identifying which products they should launch, testing them, and finalising the packaging, Foxtale tries to include feedback from their users every step of the way and they only launch products in the market once 97% of their community approves of their efficacy.

Speaking of the funding, Romita Mazumdar, Founder & CEO, Foxtale, said, “A big issue in the Indian skincare industry has been the low customer repeat rates. It was clear that efficacy was a big problem for skincare enthusiasts in India and we had to solve it. Our focus on understanding our customer’s needs & product innovation has enabled us to establish a strong early product-market fit and drive industry-leading repeat rates and customer NPS scores; however, there is still a long way to go. I am very excited to find partners like Matrix and Kae in this journey and looking forward to building Foxtale with them.”

“The beauty and personal care market in India is growing fast and is expected to reach $28B by 2025. We are privileged to partner with Romita and the Foxtale team as they aim to disrupt this market through innovative products and differentiated go-to-market strategies. At Matrix, we continue to be excited about backing new-age consumer brands and Foxtale is our tenth investment in the sector.” commented Rajat Agarwal, Managing Director, Matrix India.

“Foxtale is different from other skincare brands. Its focus on high efficacy and the vigorous testing they conduct before launching a product is unlike any other. Foxtale sources 80% of its ingredients from premiere labs across the globe. We are excited to continue to partner with Foxtale as they build out India’s foremost skincare DTC brand.” commented Sunitha Viswanathan, Partner, Kae Capital.

On the road ahead, Romita said, “Our vision is one – to build a consumer-first brand where growth and product have equal importance. I want to change the perception that self-care should be a luxury restricted to women who have the privilege of time and money while proving that a profitable business can be built with consumers at the centre of the story.”