Omnichannel beauty platform Purplle Monday said it has closed its Series F funding round, having raised Rs 1,500 crore (around $178.4 million), led by existing investor Abu Dhabi Investment Authority (ADIA). The round valued Purplle around $1.25 billion.
ADIA invested $120 million in this round in a mix of primary and secondary transactions. It owns close to a 10% stake in Purplle after the round. It had invested $40 million in Purplle last year. The latest round saw participation from other existing investors, including Premji Invest and Blume Ventures.
Investors such as Sharrp Ventures have also joined the cap table.
“Through the application of data-driven insights and the expansion into underserved markets, we seek to support the company in delivering personalized and accessible beauty solutions tailored to the diverse needs of consumers across India,” said Rishabh Mariwala from Sharrp Ventures.
Founded in 2012, Purplle, operated by Manash Lifestyle Pvt. Ltd, is an omnichannel consumer platform that sells beauty products. It claims that its online platform reaches over 10 million consumers a month, along with over 20,000 offline touchpoints.
Purplle also retails products of third-party brands even as it continues to scale its private labels such as Faces Canada, Alps Goodness, Good Vibes, Carmesi, DermDoc, etc.
In 2022, Purplle became India’s 102nd unicorn, backed by investors including a wholly-owned subsidiary of ADIA, Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume Ventures, and Paramark Ventures. It has a team of 4,000 employees.
The startup’s consolidated revenue grew to Rs 680 crore in FY24 from Rs 475 crore in the preceding year, per its latest available financials sourced by VCCEdge. Its EBITDA loss narrowed to Rs 85 crore during the year from Rs 187 crore.
