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Plush, a feminine hygiene startup is gearing up for its Series B funding round led by angel investor Ajay Kumar Aggarwal.
The round also saw participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 additional investors.
According to the company’s official filings with the Registrar of Companies (RoC), Plush’s board has approved a special decision to issue 4,099 Series B preference shares, aiming to raise Rs 30.56 crore (about $3.6 million).
The new funds will help Plush grow, launch new products, and reach more customers. With more people becoming aware of women’s health and hygiene, Plush is ready to make a big impact in India’s personal care market.
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Ajay Kumar Aggarwal will lead the investment round by putting in Rs 6 crore. Existing investors Careernet Technologies, OTP Ventures, and Blume Ventures will invest Rs 5 crore, Rs 3 crore, and Rs 4 crore, respectively. The rest of the money will come from Rahul Garg, Sumit Jalan, Blue Ashva Varenya Fund, Rahul Kayan, and seven other investors together.
After this funding, Ajay Kumar Aggarwal will be the biggest individual owner with a 19.64% share. Careernet Technologies and Blume Ventures will own 16.37% and 13.08%, respectively.
About Plush
Founded in 2019 by Ketan Munoth and Prince Kapoor, the Chennai-based startup makes feminine care products like period care, hair removal, intimate wellness, and skincare. Their products are now sold in 500 stores in Bengaluru, Chennai, Mumbai, Delhi, and Hyderabad. They plan to grow and be in 2,000 stores within the next six months.
Lush reported an 84% increase in revenue, reaching Rs 28.87 crore in the year ending March 2024. However, the company had a loss of Rs 4.4 crore during this time. It is expected to earn Rs 60 crore in revenue by the end of FY25.
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