Plum, an Indian beauty brand that debuted in 2014 ha snow raised a Series B funding of Rs 110 crore led by Faering Capital. Plum’s existing investors include Unilever Ventures. Pureplay Skin Science India , the parent company of Plum currently has a footprint across 200 cities at 6,000-plus retail outlets, and products across skin care and hair care.
Shankar Prasad, founder of the startup Pureplay owns two brands — vegan beauty brand ‘Plum,’ and men’s grooming brand ‘Phy.’ With over 60 products in Plum and 12 in Phy, its products range from skincare, cosmetics, body and bath essentials, etc. It claims to offer 100 percent vegan, cruelty-free, safe, and sustainable beauty and grooming products.
From The Founder’s Desk
Speaking on the investment, Shankar Prasad, Founder and CEO, Pureplay Skin Sciences India, said, “The funds raised from Faering Capital, Unilever Ventures, and Trifecta Capital will help us deliver a more engaging brand experience for our customers and further expand our product range and market presence.”
Faering Capital Co-founder and MD Sameer Shroff said he was proud to partner with the startup for its next stage of growth.
Trifecta Capital, as well as existing investor Unilever Ventures, also participated in this round of funding for Pureplay, which will be used for brand building, technology, and expansion of distribution footprint, the startup said in a statement. “Shankar and his team have built a highly capital-efficient business, and we are very excited to continue our support for them with both credit and equity,” Trifecta Capital Managing Partner Nilesh Kothari said.
About The Investment
The funding received by Pureplay Skin Sciences India is planned to be utilized in opening new outlets and further expanding the product portfolio of the brands, largely in skincare.
Pawan Chaturvedi, Investment Director – Asia at Unilever Ventures says,” We are delighted to see the progress achieved by Plum since we first invested in the startup two years ago. Shankar and Plum’s team have scaled the business, built a strong brand, expanding the product range, hiring talent, and setting up the foundations for the next phase of growth. We remain committed to our partnership in building Plum as one of the valuable beauty brands in the country” Started as a bootstrapped venture, Pureplay, in 2018, secured a Series A funding from Unilever Ventures. Since then, it has scaled the business, built a strong brand, expanding the product range, hiring talent, and setting up the foundations for the next phase of growth.