The Abu Dhabi Investment Authority (ADIA) subsidiary has led a funding round for beauty e-commerce marketplace Purplle, which has raised INR 1,000 Cr (approximately $120 Mn).
Purplle disclosed that additional investors participated in the round, which consisted of a combination of primary and secondary share sales. The identities of these investors were not disclosed.
Additionally, Purplle disclosed its most extensive liquidity program to date, which provides employees with liquidity of INR 50 Cr in addition to the funding round.
Read also – Comet Secures $5 Mn Series A Funding Round from Elevation Capital
According to Purplle, 320 employees have been granted ESOPs to date, with 85 of them liquidating INR 75 Cr worth of options across three buybacks. 26% of the beneficiaries in the new ESOP liquidity program are women.
Purplle is a retailer of appliances and cosmetic products. It offers products from a variety of direct-to-consumer (D2C) brands, such as Plum, WOW Skin Science, mCaffeine, Maybelline, and SUGAR Cosmetics, on its platform.
Manish Taneja, cofounder and CEO, Purple, said: “We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omnichannel experience. In increasing its shareholding in Purplle, ADIA has continued to support us as we pursue our vision of building a sustainable and profitable business.”
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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