Beauty ecommerce marketplace Purplle has raised $100 million (INR 835 Cr) funding led by Abu Dhabi’s sovereign fund ADIA valuing the business at approximately $1.2-$1.3 billion.
WHO: Founded in 2012 by Rahul Dash and Manish Taneja, Purplle.com is a beauty platform selling nearly 60,000 products from over 1,000+ brands as well as five private D2C brands.
WHY: The investment will fuel the rollout of more offline stores.
DETAILS:
- Beauty ecommerce marketplace Purplle has reportedly raised $100 million (INR 835 Cr) funding through a combination of primary and secondary investments led by Abu Dhabi’s sovereign fund ADIA.
- Premji Invest, an existing investor in Purplle, has increased its stake in the business, with Peak XV Partners and Blume Ventures also participating.
- Creaegis, a sector-agnostic PE fund founded by former Premji Invest partner Prakash Parthasarathy, is expected to join the round as a new investor, and talks are in the final stages of closing, sources said.
- This investment values Purplle at approximately $1.2-1.3 billion, marking a 15% increase from its previous fundraising round.
- Purplle plans to tap the public markets between the second half of next year and early 2026.
FUNDING AND ACQUISITIONS:
- In June 2022, the company raised a $33 million round of investment that took the total funding raised by Purplle to over $215 million and valued the company at $1.1 billion. Paramark Ventures, along with existing investors Premji Invest, Blume Ventures, and Kedaara Capital, participated in the round.
- In January, Purplle raised $38 million led by Sequoia Capital. Blume Ventures and Sangeeta Pendruka, CEO of Aditya Birla Fashion and Retail Limited (ABFRL)-owned Pantaloons,...
