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Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge

EntrackrEntrackr · 2m ago
Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge
Medial

Exclusive: Feminine care brand Plush to kick off Series B round at 3X valuation surge Feminine hygiene brand Plush to raise its Series B funding round, led by angel investor Ajay Kumar Aggarwal, with participation from Careernet Technologies, OTP Ventures, Blume Ventures, and 11 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 will lead the round with an investment of 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. Following the fresh proceeds, Angel Investor Ajay Kumar Aggarwal will hold 19.64% stake in the company followed by Careerner Technologies and Blume Ventures which holds 16.37% and 13.08% respectively. 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 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.

Menstrual hygiene startups want to do more than what Whisper and Stayfree could

LivemintLivemint · 10m ago
Menstrual hygiene startups want to do more than what Whisper and Stayfree could
Medial

- New-age menstrual hygiene startups such as Peesafe, Sirona Hygiene, Carmesi, Nua, and Plush are offering a range of products beyond traditional sanitary napkins in the Indian market. - These startups aim to create an entire ecosystem of feminine hygiene products, including menstrual cups, biodegradable panty liners, cramp relief patches, and intimate washes. - Increasing female employment, disposable incomes, and extensive social media marketing have been key drivers of growth for these direct-to-consumer fem-tech startups. - While these startups are gaining popularity among younger consumers, larger consumer goods manufacturers like Procter and Gamble Health and Hygiene Care Ltd (PGHH) are taking note and seeing healthy competition as an opportunity to grow the category. - The low market penetration of menstrual hygiene products in India is attributed to factors such as lack of awareness, residual taboo, and cost barriers, especially in rural communities. - There is room for both established players like PGHH and new-age brands to coexist as the Indian feminine hygiene market is under-penetrated, allowing lesser-known products like menstrual cups and cramp relief patches to thrive.

Nat Habit’s revenue grows 80% in FY24, losses remain flat

EntrackrEntrackr · 3m ago
Nat Habit’s revenue grows 80% in FY24, losses remain flat
Medial

Nat Habit’s revenue grows 80% in FY24, losses remain flat Nat Habit, a personal care startup focused on fresh and natural beauty products, recorded an 80% jump in revenue during the fiscal year ending March 2024. Despite the strong growth, the company’s net losses remained largely unchanged during the same period. Nat Habit’s revenue from operations increased by 80% to Rs 72 crore in FY24 from Rs 40 crore in FY23, according to its financial statement sourced from Registrar of Companies (RoC). Founded by Swagatika Das and Gaurav Agarwal in 2018, Nat Habit offers Ayurvedic personal care products such as shampoo, face wash, moisturiser among others. Sale of these products was the sole source of revenue for the company during the said fiscal year (FY24). Advertising remained the company’s largest cost center, rising 38.5% to Rs 36 crore and accounting for nearly 40% of total expenses. The startup also incurred Rs 14 crore in employee benefits, more than doubling from Rs 6.5 crore in FY23. Raw material costs increased to Rs 12 crore, while transportation and other operating overheads stood at Rs 11 crore and Rs 18 crore, respectively in the said fiscal year. Overall, the company’s total expenses rose 65.5% to Rs 91 crore in FY24 from Rs 55 crore in FY23. Revenue growth outpacing expenses led to losses remaining flat at Rs 17.75 crore in FY24 as compared to Rs 17.6 crore in FY23. Its ROCE and EBITDA margin stood at -24.65% and -21.58%, respectively. The firm spent Rs 1.26 to earn a rupee of operating revenue in FY24, compared to Rs 1.38 in FY23. The Gurugram-based company recorded current assets worth Rs 58 crore in FY24 which includes Rs 41 crore in cash and bank balance. According to TheKredible, Nat Habit has raised a total of approx $16 million of funding till date, having Peak XV Partners, Fireside Ventures and Whiteboard Capital as its lead investors. The company’s co-founders Swagatika Das and Gaurav Agarwal together own 33.1% of the company. In FY24, Nat Habit bought back about 6 lakh shares at a price of Rs 250 each, aiming to better manage its ownership structure and create more value for shareholders. At the same time, the company increased its authorized share capital sharply from Rs 3.51 crore to Rs 29.3 crore, possibly to prepare for future fundraising.

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