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
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
Happiest Minds brings in an innovative GenAI chatbot
Happiest Minds Technologies has announced the new GenAI chatbot - ‘hAPPI...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
InfoVision appoints Radhika Venkatraman to its Advisory Board
Global digital services company, InfoVision has announced the appointment
OPEN YOUR EYES
INTERVIEWS
Cisco committed to help build trusted, resilient future for or
Cisco is delivering on its promise of the AI-driven Cisco Security Cloud to
Kaspersky securing the digital landscape by offering enhanced
Kaspersky is a thought leader in cybersecurity that identifies threats by p
HOT PICK
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
Dell Technologies launches the new consumer and gaming portfol
Dell Technologies has unveiled its newest line of AI-enabled consumer PCs
MAKE IN INDIA BRANDS
LENOVO GROUP LTD.
HP INDIA SALES PVT. LTD.
AMARA RAJA POWER SYSTEMS LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Sachin Bansal
Sachin Bansal’s fintech startup, Navi Technologies, simplifies loan ...
Technology Icons Of India 2023: Josh Foulger
Josh is the Country Head of India and MD of Bharat FIH Ltd (A Foxconn ...
Technology Icons Of India 2023: Sunil Vachani
Sunil Vachani is the founder and chairman of India-listed Dixon Techno...
PARTNER SPEAKERS
PSU
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
New defence PSUs will help India become self-reliant
MIL, India’s biggest manufacturer and market leader is engaged in Pr...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
VIDEOS
Top 25 Brands
Value-Added Distribution
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
ADITYA INFOTECH LTD.
Aditya Infotech Ltd. (AIL) – the technology arm of Aditya Group, is ...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
