Thane-based skincare goods startup Pureplay Skin Sciences, Plum’s parent firm, has increased INR 110 Cr in Series B financing led by Faering Capital. Plum and Phy’s parent firm of skincare manufacturers said it increased Rs 110 crore in Series B funding. To expand the business growth, Trifecta and investor Unilever Ventures also participated in the round for brand building
The investment will also be used to open more retail shops. The brand is currently Accessible to 6,000 outlets in over 220 cities, along with 15 online marketplaces That Bring over two-third of Plum’s Earnings.
Founded in 2014 by Shankar Prasad, Plum asserts to become a 100% wonder manufacturer and provides skincare, makeup, body, and bath products.
With over 80 SKUs within its own portfolio containing skincare hair care, body care, and eye cosmetics, the manufacturer has undergone a 2.5x increase year-on-year, hoping to increase the INR yearly sales run rate of 200 Cr from March 2021, the business said in an announcement.
In 2018, the firm had increased an enormous amount in Series A financing from Unilever Ventures, the venture capital and private equity arm of consumer giant Unilever
Read More: Google May Acquire ShareChat in RS. 7,600 crore
Faering Capital Co-founder, MD Sameer Shroff, stated that he had been pleased to associate with all the startups for the next phase of expansion. He included Pureplay Skin Sciences functions 250,000 clients every month and is now targeting a yearly sales run rate of over $200 crore from March 2021.
