Purplle secures Rs 1,500 crore in series F funding round

Purplle, an omnichannel beauty platform has closed its series F funding round by securing an investment of Rs 1,500 crore ($178.6 million).

The funding round was led by a subsidiary of the Abu Dhabi Investment Authority (ADIA) with participation by Premji Invest, Blume Ventures, and Sharrp Ventures.

The company will utilise the funds to expand its reach, innovate its product offerings, and deliver personalized beauty solutions to customers across the country.

Commenting on the funding round, Manish Taneja, co-founder & CEO of Purplle in a statement said, “As we continue to innovate, 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.”

Rishabh Mariwala from Sharrp Ventures added, “Our strategic involvement with Purplle is focused on reinforcing our philosophy of backing new age platforms with a commitment to customer centricity. 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.”

Purplle is one of the fastest-growing retailers in the beauty and personal care segment with private labels like Faces Canada, Alps Goodness, Good Vibes, Carmesi, Dermdoc among others. It operates an online platform reaching over 10 million consumers a month along with over 20,000 offline touchpoints.