Purplle Raises Additional $65 Million Series D Funding The company has raised $65 million bringing Premji Invest to the capital table
By Shrabona Ghosh •
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Purplle.com, an online beauty destination, has raised $65 million bringing in Premji Invest as an investor. This investment comes weeks after a $75 million funding led by Kedaara Capital, Sequoia Capital India and Blume Ventures. The company said it has closed a $140 million Series D funding after this investment.
"We are very pleased to welcome Premji Invest to our capital table. The investment will leapfrog our efforts to offer women personalised beauty experiences, expand our wide range of innovative products and drive penetration across the country. We plan to rapidly scale our private brands business and continue to build differentiated beauty brands with entrepreneurs. We will leverage exclusive Indian and international brand partnerships and fast-track acquisitions. Investments in content and community will be a key focus. We have nurtured some of the sharpest minds and will continue to build talent," said Manish Taneja, co-founder and CEO, Purplle.com in the statement.
Premji Invest supports the growth of India's booming consumer, financials, technology and manufacturing ecosystem. Investments of Premji Invest are across sectors such as consumer, financials, technology and manufacturing.
"Democratising beauty will continue to be a dominant theme in India and customers today are looking for products that specifically cater to their skin and personal health. Purplle continues to build on that promise by integrating the requirements of the customer through careful analysis of customer usage data with unique and differentiated products. We are excited about this partnership and look forward to working closely with the Purplle team," said Atul Gupta, partner at Premji Invest.
Founded in 2012, Purplle.com is one of the largest e-beauty destinations in India, with over seven million monthly active users, added the statement.
