Purplle, an online beauty marketplace, raised $100 million (INR 835 crore) in finance from main and secondary investments, with the lead investment coming from Abu Dhabi’s sovereign fund ADIA.
Purplle is valued at between $1.2-1.3 billion after this injection, which is 15% more than it was during its previous financing round from the previous year.
Read also – Skincare Brand Foxtale Raises $18 Mn Funding from Panthera Growth Partners
Purplle had started preliminary talks with ADIA for a $100 million investment and intended to open more physical outlets this year.
Purplle offers gadgets and cosmetics for sale. On its site, it offers products from a number of direct-to-consumer companies, such as Plum, WOW Skin Science, mCaffeine, Maybelline, and SUGAR Cosmetics.
Purplle’s sales or operating revenue for the fiscal year 2022–2023 (FY23) increased by 116% to INR 474.9 Cr from INR 219.8 Cr in FY22.
Purplle intends to enter the public markets in the latter part of 2019 and the first half of 2026.
About Purplle
Founded in 2012 by Manish Taneja, Rahul Dash, Purplle is one of India’s leading omnichannel beauty destinations. A strong platform with 1000+ listed brands, 60,000+ products, and 7 million+ monthly active users. Purplle expanded in 2022 with 6000+ offline touchpoints and 8 exclusive stores.
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