Update: Feminine care brand Plush raises Rs 40 Cr in growth round

Update: Feminine care brand Plush has announced a Rs 40 crore growth round led by Rahul Garg, with participation from Blume Founders Fund, OTP Ventures, Careernet, Patni Family Office, Sumit Jalan, and Ajay Kumar Aggarwal, among others.

The capital will be deployed toward deepening market share, offline retail expansion, and brand investments aimed at making Plush the go-to personal care label for everyday wellness, Plush said in a press release.

Original story follows: 

Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Rahul Garg with participation from Ajay Kumar Aggarwal, Careernet Technologies, OTP Ventures, Blume Founders Fund, and other investors.

The board at Plush has passed a special resolution to issue 4,099 Series B preference shares to raise Rs 30.56 crore or $3.6 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows.

Ajay Kumar Aggarwal to imvest Rs 6 crore, while existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will contribute Rs 5 crore, Rs 3 crore, and Rs 4 crore respectively. The remaining amount will be collectively invested by Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors.

According to Entrackr’s estimates, the company’s valuation is expected to reach around Rs 281 crore (approximately $33 million) post-allotment. This marks nearly a 3X spike in its valuation, compared to its previous pre-Series B round.

Founded in 2019, the Chennai-based startup focuses on feminine care products, offering a range that includes period care, hair removal, intimate wellness, and skincare solutions. According to the company, its products are currently available in 500 stores across Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad, with plans to expand retail presence to 2,000 stores over the next six months.

Plush had raised just Rs 26 Crore prior to this round. making its current ₹100 Crore net ARR and EBITDA-level profitability and now targeting Rs 200 crore ARR in the next phase of growth.

Plush reported an 84% year-on-year revenue growth to Rs 28.87 crore in the fiscal year ending March 2024. During the same period, the company posted a loss of Rs 4.4 crore. The startup is projected to close FY25 with Rs 60 crore revenue.

Update: The headline and story have been updated to include additional inputs from Plush’s official press release.