Plum riases 110 cr Series-B funding

Pureplay Skin Sciences (India) Pvt. Ltd, which sells beauty and skincare products under the brand Plum, on Thursday said it has raised Rs 110 crore (around $15 million) in its Series B funding round.

Shankar Prasad, CEO and founder of Plum, said the fresh capital would expand its product range and market presence.

Plum, which was launched in 2014 by Prasad, started as an online-only beauty brand. The company later took the omnichannel route even as online still accounts for more than two-thirds of its top line, it said.

The company’s portfolio comprises skincare, haircare, body care, and makeup products. It said it has experienced a 2.5 times growth year-on-year and expects to clock an annual revenue run-rate of Rs 200 crore by March 2021.