Total amount raised
$476.1 Millions
Latest funding date
Location
Title
Purplle has successfully raised significant funding through multiple rounds, including a notable ₹1,000 crore from the Abu Dhabi Investment Authority (ADIA) and others. The platform specializes in offering a wide range of beauty and personal care products online.
Keep reading to explore the intricacies of Purplle's fundraising journey and the investors backing this innovative platform.
What Is Purplle?
Purplle, founded in 2012 by Manish Taneja and Rahul Dash, is an online retailer specializing in beauty and personal care products. Based in Mumbai, Maharashtra, India, the company offers a wide range of cosmetics, skincare, haircare, and fragrances. With a workforce of 1001-5000 employees, Purplle continues to grow and innovate in the beauty industry.
How Much Funding Has Purplle Raised?
- Series D
- Amount Raised: $45M
- Date: March 2021
- Lead Investors: Peak XV Partners, Verlinvest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance technology infrastructure.
- Series D
- Amount Raised: $75M
- Date: October 2021
- Lead Investors: Kedaara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series D
- Amount Raised: $60M
- Date: November 2021
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost marketing efforts and customer acquisition.
- Series D
- Amount Raised: ₹2.6B
- Date: January 2022
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance supply chain capabilities and expand into new markets.
- Series E
- Amount Raised: $33M
- Date: June 2022
- Lead Investors: Paramark Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new product lines and improve customer experience.
- Series E
- Amount Raised: -
- Date: May 2023
- Lead Investors: Abu Dhabi Investment Authority
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and drive innovation.
- Series F
- Amount Raised: ₹15B
- Date: June 2024
- Lead Investors: Abu Dhabi Investment Authority, Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand internationally.
Total Amount Raised: $213M
Current Valuation: Not publicly disclosed
Key Investors
- Abu Dhabi Investment Authority (ADIA)
- Details: ADIA is a sovereign wealth fund owned by the Emirate of Abu Dhabi. It is one of the largest sovereign wealth funds in the world, managing a diversified global investment portfolio.
- Investment Focus Areas: Real estate, private equity, infrastructure, public equities.
- Notable Investments: Citigroup, Glencore, Reliance Industries.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the founder of Wipro. It focuses on long-term investments in various sectors.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: PolicyBazaar, Flipkart, FabIndia.
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a venture capital firm that invests in early and growth-stage companies in India and Southeast Asia.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Kedaara Capital
- Details: Kedaara Capital is a private equity firm based in India. It focuses on investments in high-growth businesses across various sectors.
- Investment Focus Areas: Consumer, financial services, healthcare, industrials.
- Notable Investments: Mahindra Logistics, Spandana Sphoorty, Vijaya Diagnostic Centre.
- Paramark Ventures
- Details: Paramark Ventures is a venture capital firm that invests in early-stage technology companies. It aims to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, e-commerce, fintech, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Purplle?
Purplle stands at the cusp of significant growth opportunities, driven by the rising demand in the beauty and personal care market. With the backing of major investors like ADIA, the company is well-positioned to expand its product offerings and enhance its technological infrastructure. This growth potential opens doors for future fundraising rounds, which could further bolster its market presence and innovation capabilities.
However, as Purplle scales, it may encounter challenges such as increased competition and the need to maintain a robust supply chain. Navigating these hurdles will be crucial for sustaining its growth trajectory and achieving long-term success in the dynamic beauty industry.
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