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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.

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Exclusive: Pilgrim raises $9 Mn with 3X valuation surge

EntrackrEntrackr · 11m ago
Exclusive: Pilgrim raises $9 Mn with 3X valuation surge
Medial

Beauty and personal care D2C firm Pilgrim has raised Rs 75 crore (approximately $9 million) in its extended Series B round led by Fireside and Vertex Ventures. The board at Pilgrim has passed a special resolution to issue 854 Series B1 and B2 preference shares at an issue price of Rs 8,77 655 each to raise Rs 75 crore or $9 million, its regulatory filing accessed from the Registrar of Companies shows. Fireside and Vertex Ventures pumped in Rs 25 crore and Rs 23 crore, respectively. NSFO Ventures, Mirabilis Investment, and NABS Vriddhi cumulatively invested Rs 27 crore during the round. The company will use these proceeds for expansion and general corporate purposes as decided by the board, the filings further added. According to the startup data intelligence platform TheKredible, the company’s valuation has soared to approximately Rs 2,075 crore (around $250 million) post-allotment. This marks an over threefold increase from its last funding round, of $20 million where the company was valued at $75 million. The firm may raise more funds in this round. With the recent funding, Fireside Ventures remains the largest external stakeholder with a 23% stake, followed by Vertex Ventures, which holds 11.2%. NSFO Ventures and Mirabilis Investment command 5.57% and 2.81% stakes, respectively. Founded by Anurag Kedia in 2019, Pilgrim offers more than 90 SKUs across face care, haircare, and skincare products, and fragrances in over 25,000 pin codes. The company said that it offers a wide range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers. The five-year-old firm has raised around $35 million across rounds including its $20 million Series B led by Vertex Ventures in 2023. The company posted 4.47X growth in scale to Rs 76 crore in FY23 from Rs 17 crore in FY22. In pursuit of growth, its losses also jumped 3X to Rs 23 crore in FY23. Pilgrim is yet to file annual results for FY24.

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge

EntrackrEntrackr · 5m ago
Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge
Medial

Exclusive: The Whole Truth kicks off Series C with 3.6X valuation surge Clean-label health food brand The Whole Truth is raising Rs 133.3 crore (approximately $15.8 million) in a series C round led by Sofina Ventures, with the participation of Peak XV and Matrix Partners. The board at The Whole Truth has passed a special resolution to issue 45,097 Series C preference shares at an issue price of Rs 29,556.5 each to raise Rs 133.3 crore or $15.8 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is leading the Series C round with an investment of Rs 65.8 crore, while Peak XV and Matrix Partners will contribute Rs 25 crore and Rs 29.5 crore, respectively. Sauce Continued Fund will also participate with an investment of Rs 13 crore. The fresh funds will be used to meet financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based company will have a post-allotment valuation of approximately Rs 2,135 crore ($254 million). This marks a 3.6X increase in valuation compared to its previous Series B round, which closed at $70 million. According to the filings, after the fresh funding round, Peak XV will hold 21.14% of the firm, while Matrix Partners will own 21.4%. Sofina Ventures and Sauce Continuity will hold 3.08% and 3.77%, respectively. The Whole Truth was reportedly in discussions to raise $25 million in a new funding round. The company has secured $15.8 million so far and may raise additional funds as the round progresses. The Whole Truth offers a range of products, including protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The company provides subscription options and claims that 80-85% of its sales come from its website, with the remaining revenue generated through partnerships. The Whole Truth recorded an 81% year-on-year growth, with revenue rising to Rs 65.3 crore in FY24 from Rs 35.96 crore in FY23. The company reduced its losses by 33% during the same period.

Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge

EntrackrEntrackr · 8d ago
Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge
Medial

Exclusive: The Sleep Company to kick off Series D round with 80% valuation surge Sleep solution startup The Sleep Company is set to raise Rs 105 crore ($12.3 million) in its Series D round led by Saffron Investments with the participation from Carillon Investments and Infinity Partners. The company last raised $22 million in a Series C round led by Premji Invest and Fireside Ventures in December 2023. According to its filing with the Registrar of Companies (RoC), The Sleep Company’s board passed a resolution to approve the issue of 19,093 Series D CCPS at an issue price of Rs 55,130 each to raise the above-mentioned amount. Saffron Investments will lead the round with an investment of Rs 87.73 crore ($10.3 million), while Carillon Investment and Infinity Partners will contribute Rs 9.74 crore and Rs 7.77 crore, respectively. The filing added that the proceeds from this round will be used for growth, expansion, and general corporate purposes. This seems like a part of a bigger round, and the company might raise more during the same round. According to Entrackr’s estimates, the Mumbai-based company will be valued at Rs 2,745 crore (approximately $323 million), marking an 80% surge in valuation compared to around Rs 1,500 crore during its previous $22 million round. The valuation will increase in case of more inflow of funds during the ongoing Series D. The Sleep company was reportedly in talks to raise $50 million from ChrysCapital in a mix of primary and secondary transactions. Founded in 2019, D2C sleep solutions startup The Sleep Company offers a range of products, including mattresses, pillows, cushions, bedding, and office chairs. The company sells its products through both e-commerce platforms and offline retail channels. According to startup data intelligence platform TheKredible, it has raised around $49 million to date from the likes of Premji Invest and Fireside Ventures. Following the allotment of this round, Saffron Investments will be holding a 3.2% stake in the company. For the fiscal year ended March 2024, the D2C brand’s revenue surged 2.5X to Rs 312 crore from Rs 127 crore in FY23. Despite the growth, the losses of the company rose by 58% to Rs 58.69 crore during the same period. The Sleep Company competes with Wakefit, which recently filed its DRHP with SEBI to raise Rs 468 crore via fresh issue. It also competes with SleepCat, Duroflex, among others.

Exclusive: Brick&Bolt valuation soars 3X in new round

EntrackrEntrackr · 5m ago
Exclusive: Brick&Bolt valuation soars 3X in new round
Medial

Tech-enabled construction company Brick&Bolt is raising Rs 16.6 crore (approximately $1.95 million) in its pre-Series B round from Foundamental. Foundamental is a US-based investment firm that has previously invested in Indian companies, including Infra.Market in its Series A round in 2020. The board at Brick&Bolt has passed a special resolution to issue 369 pre-Series B compulsory convertible preference shares at an issue price of Rs 4,50,087 to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per filings, the proceeds will be utilized for immediate working capital and long-term funding requirements for the business. Brick&Bolt provides construction solutions such as complete construction, carpentry, woodwork, kitchen renovations for land and home owners. It operates in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune. According to startup data intelligence platform TheKredible, the Bengaluru-based firm has raised approximately $16.5 million to date, led by Surge Ventures, Accel, and Celesta Capital. This includes a $10 million Series A round secured in January 2023 from Accel and Celesta Capital. According to Entrackr’s estimates, the firm will be valued at approximately Rs 891 crore ($105 million) post-allotment, marking a nearly 2.9X increase from around Rs 310 crore ($36.5 million) in its Series A round. Participating investor Foundamental will hold an 8.28% stake. It’s likely to raise additional funds in this round, which may further impact its valuation. The company reported an 81% surge in operating revenue, standing at Rs 42.25 crore for the fiscal year ending March 2024. Notably, it managed to curb losses, which declined by 10% to Rs 31 crore in the last fiscal year (FY24).

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.

Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital

EntrackrEntrackr · 23d ago
Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital
Medial

Exclusive: R for Rabbit to raise $27 Mn in primary and secondary capital D2C baby products brand R for Rabbit is raising Rs 110 crore (around $13 million) primary capital in a Series B round led by Filter Capital, with participation from 3one4 Capital. As per the company’s regulatory filings sourced via the Registrar of Companies, the board passed a special resolution to issue 1,839 Series B CCPS at an issue price of Rs 5,98,202 per share to raise the above sum. Filter Capital will lead the primary round with an infusion of Rs 70 crore, while 3one4 Capital will chip in with Rs 40 crore in the new round. Alongside the primary round, the company also facilitated a secondary transaction, enabling early investor Xponentia Capital to fully exit with Rs 120 crore, according to regulatory filings reviewed by Entrackr. The exit was led by 3one4 Capital. As per estimates, Xponentia earned a 3X return on its investment in 2021. Prior to the Series B round, R for Rabbit has secured a total of Rs 40 crore from Xponentia Capital partners. In 2023, Negen Capital also invested in the direct-to-customer baby care brand. R for Rabbit declined to comment on the story, while queries sent to 3one4 Capital remained unanswered at the time of publishing. The company will use the funds for the expansion of the business, the filing further added. According to Entrackr’s estimates, R for Rabbit has been valued at approximately Rs 850 crore ($100 million) post-money. Post this round, 3one4 Capital has emerged as the largest external stakeholder with a 14.12% stake, followed by Filter Capital at 10.6%. Co-founders Kunal and Kinjal Popat collectively retain 69.2%. Founded by husband-wife duo Kunal and Kinjal Popat, R for Rabbit caters to the baby products segment with a wide range of offerings, including strollers, car seats, high chairs, and more. According to its website, the company has more than 2,000 offline channel partners and has a customer base of more than 5 million parents. While R for Rabbit has yet to file its FY25 number, its revenue from operations grew 31% year-on-year to Rs 170 crore, with net profits of Rs 2.21 crore during the fiscal year ended March 2024 (FY24).

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