Spark Investment Banking (“Spark”) acted as the exclusive financial advisor to the transaction

Spark is pleased to announce the successful closure of a USD 35 Mn equity round in Pureplay Skin Sciences (India) Private Limited ("Plum", or the "Company") led by A91 Partners and existing investors Faering Capital and Unilever Ventures.

Since its first funding round in late 2018, Plum has grown 15x, driven by a strong leadership & operating team focused on building value for - people, planet, and profit-sharing participants. Its products rank among the top brands on key eCommerce marketplaces such as Amazon, Flipkart, Nykaa, and Purplle, in addition to being distributed across 250 towns and cities in India through nearly 1,000 assisted retail outlets, and over 10,000 unassisted outlets. The fresh equity raise is expected to further strengthen its omni-channel presence, build new categories in addition to its core skin care category and strengthen R&D capabilities.

Commenting on the successful completion of the transaction:

Shankar Prasad, CEO and Founder, Plum remarked, We are excited to welcome A91 Partners on board, and are equally delighted to see Faering Capital and Unilever Ventures re-affirm their faith in our business model and growth story. We also thank Spark Financial Holdings for their assistance in helping us complete this strategically important round of funding.”

Jyotiraj Sarma, Director and Head - Consumer & Digital Tech, Spark Financial Holdings remarked “Our heartiest congratulations to Shankar, Abhay, Sameer and Pawan on a successful equity raise. It was a pleasure working with you and the entire Plum team and we wish you the very best going forward."