Omnichannel beauty platform and unicorn Purplle announced the final closure of a ₹1500-crore funding led by Abu Dhabi Investment Authority, while existing investors Premji Invest and Blume Ventures also pitched in, increasing their commitment.
“This significant round will bolster Purplle’s mission to democratize beauty, leveraging technology and further enhancing its ability to bridge the accessibility gap in the beauty industry,” the company said. Harsh Mariwala’s Sharrp Ventures also came in a new investor.
“As we continue to innovate and leverage our technology and data capabilities to deliver the best omnichannel experience to our customers, this latest round of investments reaffirms the importance of our vision to make every Indian feel beautiful,” said Purplle’s co-founder and CEO Manish Taneja.
Sharrp Venture’s Rishabh Mariwala said that the investment was part of its philosophy of backing new-age platforms and a testament to its ability to identify and invest in market leaders with aligned goals who would be able to benefit from shared success.
Founded in 2012 Purplle operates an online platform reaching over 10 million consumers a month, and over 20,000 offline touchpoints. It is a partner to third-party brands while scaling direct-to-consumer private brands like Faces Canada, Alps Goodness, Good Vibes, Carmesi and DermDoc.
Some of its other investors are Kedaara, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, and Paramark Ventures.