Plush raises Rs 40 crore, achieves EBITDA-level profitability

Indian personal care brand Plush has raised Rs 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. The business has also reached profitability at the level of earnings before interest, tax, depreciation, and amortisation.

With only Rs 26 crore raised prior to this round, Plush’s Rs 100 crore net annual recurring revenue and EBITDA-level profitability positions it as a standout example of capital-efficient growth in India’s direct to customer landscape, the business announced in a press release. The company now aims to double its ARR to Rs 200 crore, supported by strong consumer loyalty and a focus on sustainable scaling.

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

Founded in 2019 by Prince Kapoor and Ketan Munoth, Plush’s portfolio spans period care, intimate wellness, hair removal, and self-care. The brand reported an 84% year-on-year revenue growth in the 2024 financial year and expects to report a revenue total of  Rs 65 crore for the 2025 fiscal.

“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 Kapoor. The company was advised by Synapse Partners for the funding round.