Mumbai – FAE Beauty, a bold and inclusive beauty brand known for its diverse range of shades & skincare-infused makeup, has raised INR 17 Cr USD 2 million in a fresh round of funding. The round was led by Spring Marketing Capital, with participation from existing investors including Titan Capital Winners Fund, Arihant Patni, and marquee angels.
Founded by Karishma Kewalramani, a UC Berkeley graduate sand trained makeup artist, FAE (Free And Equal) Beauty is reimagining colour cosmetics for Indian skin tones and textures. The brand’s hero products, like the Lip Whip, Lush Blush, and Eye-Deal Kajal, are focused on filling the white space in the Indian market of diverse shade ranges specifically created for Indian skin tones. In addition to diversity of shade range, the products are enriched with skincare benefits like hydration, anti-pigmentation actives, and smudge-proof finishes. This intersection of performance and care has helped FAE build strong traction across Gen Z and millennial consumers.
“We’re building a brand that reflects how makeup is worn today – confidently, comfortably, and in shades that actually work for our skin tones,” said Karishma Kewalramani, Founder & CEO of FAE Beauty. “Globally, we’re seeing a shift towards skinification and authentic representation – consumers expect their makeup to do more: hydrate, protect, and nourish while delivering high performance, without having to compromise on finding a shade that’s “close enough”. Skin forward & inclusive cosmetics are redefining the category in the East & West, and at FAE we strive to stay ahead of the curve with our innovative, extensive formulations and shade range. With this raise, we plan to double down on product innovation, launch new face-forward categories, and strengthen our omni-channel presence across marketplaces, quick commerce, and offline retail. We’re especially excited to have Spring as partners – they deeply understand how new-age brands are built and scaled and bring rich expertise in storytelling and consumer love.”
FAE’s growth has been marked by strong consumer adoption over the past few years, with products available across its D2C website, Amazon, Nykaa, Blinkit, Tira, and Myntra. With healthy margins and a focus on hero SKUs in lip and eye categories, the company continues its expansion through innovative product launches, including skin tints and other face products.
“FAE sits at the forefront of two powerful consumer shifts – skinification and self-expression,” said Kaushik Dasgupta, Head of Investments at Spring Marketing Capital. “Karishma has an exceptional grasp of both product formulation and consumer nuance, which has helped her build a brand that reflects that depth. From creating high-performance, skin-loving make-up products to engaging a deeply loyal audience through content and community, FAE is showing what modern beauty in India can look like. We’re excited to back a brand that blends innovation with intent.”
