Purplle, the beauty and personal care platform, has successfully secured $100 million (INR 835 Cr) in funding through a mix of primary and secondary investments, with Abu Dhabi’s sovereign fund ADIA leading the investment round.
This latest funding round has propelled Purplle’s valuation to approximately $1.2-1.3 billion, marking a notable 15% increase from its previous fundraising round last year.
In addition to ADIA’s significant investment, Creaegis, a sector-agnostic private equity fund is poised to join Purplle’s investor lineup as a new participant, with final negotiations reportedly in the advanced stages. Noteworthy backers such as Peak XV Partners and Blume Ventures already feature prominently among Purplle’s investors.
This infusion of fresh capital arrives at a strategic juncture for Purplle as it gears up to expand its physical retail presence substantially throughout the current year. Previous reports had hinted at Purplle’s ongoing discussions with ADIA regarding a significant investment aimed at supporting these expansion endeavors.
Established in 2012 by Manish Taneja and Rahul Dash, Purplle has established itself as a key player in the beauty e-commerce sector, offering an extensive array of beauty products and appliances. The platform boasts products from numerous direct-to-consumer (D2C) brands, including Plum, WOW Skin Science, mCaffeine, Maybelline, and SUGAR Cosmetics.
Notably, in the financial year 2022-23 (FY23), Purplle witnessed a remarkable surge in operating revenue, soaring to INR 474.9 Cr, reflecting a notable 116% increase from INR 219.8 Cr in FY22.