Skincare brand Plum receives Rs 110 Cr in Series B funding
By MYBRANDBOOK
The skincare products brand Plum owned by Pureplay Skin Sciences has bagged Rs 110 Cr in Series B funding led by Faering Capital, Trifecta Capital as well as existing investor Unilever Ventures.
The funds received by the company will be used in research, sourcing, new product launches, technology and expansion of distribution footprint.
Plum, established in the year 2014 by Shankar Prasad, claims that it is a 100% vegan beauty brand and offers skincare, cosmetics, body, and bath products.
With over 80 SKUs in its portfolio comprising skincare, hair care, body care, and eye makeup, the brand has experienced a 2.5x growth year-on-year, expecting to be at an annual revenue run rate of INR 200 Cr by March 2021, the company said in a statement.
Shankar Prasad, CEO & Founder of Plum’s CEO and founder Shankar Prasad said, “We are delighted to welcome Faering Capital given their track record in working with entrepreneurs and their expertise in Consumer Brands. The funds raised from Faering Capital, Unilever Ventures and Trifecta Capital will help us deliver a more engaging brand experience for our customers (fondly called Plumsters) and further expand our product range and market presence.”
The brand is available in over 220 cities at six thousand retail outlets and also on 15 online marketplaces which still account for over two-third of Plum’s topline.
In 2018, the company had raised an undisclosed amount in Series A funding from Unilever Ventures, the venture capital and private equity arm of consumer giant Unilever.
“ Widespread and rapid digital adoption across India is fueling the growth of sharply focused online brands and Plum is at the forefront of this trend due to the brand’s innovative product portfolio and consumer loyalty. Faering Capital is proud to lead the Series B investment and partner with the company for their next stage of growth”, said Sameer Shroff, co Founder and Managing Director at Faering Capital, who will join the board of the company.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
NETWEB TECHNOLOGIES INDIA LTD.
HAVELLS INDIA LTD.
DIGISOL SYSTEMS LTD.
ZOHO CORPORATION PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
Icons Of India : ASHISH KUMAR CHAUHAN
Ashish kumar Chauhan, an Indian business executive and administrator, ...
PARTNER SPEAKERS
PSU
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
