Beauty brand Plum raises series-B funding of Rs 110 cr

Vegan beauty company Plum has raised Series B funding of Rs 110 crore led by Faering Capital. Plum's existing investors include Unilever Ventures. The company said Plum, which debuted in 2014, has a footprint across 200 cities at 6,000-plus retail outlets, and products across skin care and hair care. Its portfolio includes male grooming brand Phy and body care brand Plum BodyLovin.

Plum founder and chief executive Shankar Prasad said: “The funds raised from Faering Capital, along with Unilever Ventures and Trifecta Capital will help us deliver a more engaging brand experience and expand market presence.”

The company said it expects annual revenue of Rs 200 crore by March next year. Faering Capital managing director Sameer Shroff said: “Widespread and rapid digital adoption is fuelling growth of sharply focused online brands.”