Purplle.com

Subsidiary of Abu Dhabi Investment Authority leads in committing investment

Omni-channel beauty platform Purplle Group on Monday announced raising Rs 1,000 crore in a funding round led by a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA). Other investors also participated in the funding and the fresh capital was raised through a combination of primary and secondary shares issuance, according to a statement from Purplle Group. Besides, Purplle has also announced a Employee Stock Ownership Plan (ESOP) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Purplle Co-Founder & CEO Manish Taneja said: "We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omni-channel 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." Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times ..

With this transaction, JSW Ventures has fully exited its stake in Purplle from Fund I and has returned 2.7 times the fund size to its investors so far

It is the second Indian startup this week to be valued at more than $1 billion, after edtech firm Physics Wallah.

Online cosmetics retailer Purplle raised capital at a $1.1 billion valuation, becoming the second billion-dollar company to be created in India this week despite souring investor sentiment on startups

The deal size was not disclosed

This investment comes weeks after a $75 million funding led by Kedaara Capital, alongside Sequoia Capital India and Blume Ventures

E-commerce firm Purplle, which deals in beauty and personal care products, is planning to go for an IPO in 3-4 years after scaling up business with a target growth of around 80 per cent year-on-year.

The investment will augment the company's goal to deliver 6-8x growth in the next 5 years

Purplle has raised $45 million from Sequoia Cap­ital India and existing investors Verl­in­vest, Blume Ven­tures and JSW Ventures.

Online beauty and personal care platform Purplle is looking to double its sales to $100 million during the current fiscal

The funding, secured in multiple tranches, was led by an unidentified London-based investment fund