Plum, a vegan beauty and personal care brand, has raised an undisclosed amount of funding from famous actress Rashmika Mandanna, who will also be the brand ambassador for the brand.
The company plans to expand its online presence and offline footprint across India, further scale up its production, launch new products, and expand its leadership team.
The beauty brand is also planning to launch campaigns featuring the actor with an aim to make deeper inroads into the Indian beauty market.
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The Mumbai-based Plum was founded in 2013 by Shankar Prasad, It is a vegan beauty brand with products in skincare, haircare, personal care and makeup.
Plume’s current ARR on a net revenue basis is Rs 300 crore, and it aims to double that number in the next 12 months.
“We are delighted to have Rashmika on board as we look forward to reinforcing our brand connect with consumers. She is a popular youth icon and fits very well with the brand ethos of Plum, with her real, approachable persona. This partnership is an important milestone as we continue to build Plum into a lovable brand that stands for keeping things clean, real and good”, said, Shankar Prasad, CEO, and founder of Plum.
According to the company, the partnership with Rashmika will help create new avenues for customer acquisition, and is reportedly aimed at improving its presence among Gen Z and Millennial audiences.
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Plum has raised more than $50 million in funding from consumer-focused institutional investors to date.
The company claims to have grown 15x since its first funding round in late 2018.
In March 2022, it had raised $35 million in its Series C funding round from A91 Partners.
About Plum
Born in 2013, the brainchild of an IIT-ISB alum, Pureplay Skin Sciences is a new-age, values-based, science-driven clean beauty & grooming company that believes in doing good – to people, & the world around them! Team Pureplay are a bunch of passionate, fun & pun-loving people.
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Their products are formulated with what they call “good science”, proven plant-derived actives & lots of love. Delightful, safe and effective. All their products are 100% vegan and 100% cruelty-free (they’re PETA approved too!).
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