New Delhi, June 5 -- Plush, a women's wellness brand, has secured Rs 40 crore ($4.7 million) in a Series B round of funding, as it scales its offline presence and expands its personal care offerings.

Rahul Garg, former senior partner at PremjiInvest, led the round, Plush said in a statement.

Other investors who took part in the round include Blume Founders Fund, Careernet, OTP Ventures, the Patni Family Office, and angel investors Sumit Jalan and Ajay Kumar Aggarwal.

Garg, OTP Ventures, the Patni Family Office and Careernet are existing investors in the company, having previously invested in a pre-Series B round, regulatory filings show.

Plush, operated by Urban Essentials India Pvt Ltd, had raised Rs 26 crore prior to the Series B round.

Prince Kapoor, co-founder of Plush, said the fresh capital will help the company to deepen its market presence, expand its offline footprint, and invest in brand-building.

Synapse Partners acted as Plush's legal counsel in this transaction.

Plush reported an 83% rise in revenue from operations to Rs 28.8 crore in the financial year 2023-24. Net loss widened to Rs 4.4 crore from a loss of Rs 1.3 crore in the preceding financial year, as per VCCEdge, the data research platform of VCCircle.

For the fiscal year ended March 2025, the company expects revenue to more than double to Rs 65 crore.

The Chennai-based startup said it is targeting annualised revenue run rate of Rs 200 crore, from the current Rs 100 crore ARR, without providing a timeline. It claimed to have achieved EBITDA-level profitability.

"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.

Plush was founded in 2019 by Prince Kapoor and Ketan Munoth. The company manufactures personal care products for women such as pads, liners, wipes, and hampers. It also provides e-commerce services. Its other investors include Ashish Dhawan, Akhil Dhawan, Anyaa Ventures, Sujeet Kumar, and Gaurav Munjal.

Published by HT Digital Content Services with permission from VC Circle.