Personal Care Brand Plush Raises INR 40 Crore in Growth Round Led by Rahul Garg, Eyes INR 200 Crore ARR

Plush, India’s new age personal care brand, has raised INR 40 crore in a growth round led by Rahul Garg, with participation from Blume Founders Fund, OTP Ventures, Careernet, the Patni Family Office, Sumit Jalan, Ajay Kumar Aggarwal, and other strategic investors.

Plush had raised just INR 26 Crore prior to this round, making its current INR 100 Crore net ARR and EBITDA-level profitability a standout example of capital-efficient growth in the D2C landscape. The raise comes on the back of a breakout year for the company, in terms of scale and achieved EBITDA-level profitability. With a sharp focus on capital efficiency and deep consumer love, Plush is now targeting an INR 200 Crore ARR milestone in its next phase of growth.

“Plush has the right building blocks in place - it’s a loved brand with a strong emotional connect and repeat behavior. What sets them apart is their ability to scale with capital efficiency, without losing sight of quality or growth,” said Rahul Garg, lead investor in the round.

“This capital will help us deepen our market presence, expand our offline footprint, and invest in the kind of brand-building that makes Plush the go-to personal care brand for everyday wellness,” said Prince Kapoor, co-founder of Plush.

The company was advised by Synapse Partners as legal counsel in this transaction. 

Since its inception, Plush is redefining fem-care for the modern Indian consumer.
In just a few years, they have grown into one of India’s most loved, award-winning D2C brands, with a product portfolio that includes period care, intimate wellness, hair removal, and self-care essentials.

“At Plush, we’re not just building products - we’re building a movement. One that’s rooted in comfort, driven by community, and designed around what women actually want: clean, effective solutions that feel as good as they work.” - Ketan Munoth, Co-founder, Plush

From taboo-breaking campaigns to high-performing product lines, Plush is showing up where the category never has in everyday conversations, digital-first shelves, and on-ground activations that spark real change. Their approach is bold, culturally relevant, and emotionally resonant. 

Founded in 2019 by Prince Kapoor and Ketan Munoth, Plush counts Ashish Dhawan, Akhil Dhawan, Patni Family Office, Anyaa Ventures, Sujeet Kumar, and Gaurav Munjal among others as its early investor base. Plush reported an 84% year-on-year revenue growth to INR 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 65 crore revenue.

Plush and Blinkit Raise the Alarm with ‘Public Interest Notice’ on Menstrual Hygiene Day

On Menstrual Hygiene Day, Plush and Blinkit partnered to deliver ‘Public Interest Notice’ envelopes to over 25,000 homes. This campaign aims to break the stigma around periods and encourage open talks about menstrual comfort.

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