Purplle.com, one of India’s largest online beauty destinations, closed Rs.330 cr deal from Verlinvest, Sequoia Capital India, Blume Ventures, and JSW Ventures. While the three existing investors reinforced their commitment, Purplle welcomed Sequoia Capital India. The investment will further bolster the brand’s ambition to deliver 8-10X growth in the next 4-5 years.
On the deal, Manish Taneja, Co-founder & CEO Purplle.com, said, “We are excited to partner with Sequoia Capital India, as they foray into the online beauty industry. Reinvestment from Verlinvest, JSW Ventures, and Blume Ventures, is a testament to the conviction of our investors.”
“Purplle has been on a robust growth trajectory. Even with a Covid year, we have delivered >90% GMV CAGR for the last 3 years. This, while scaling our private brands successfully; Good Vibes is already an INR 150 Cr brand. The investment will help to shape Purplle into a multibillion-dollar, digital-first, beauty and personal care enterprise.”
Purplle.com has 7 million monthly active users. The beauty e-tailer has over 1000+ brands with nearly 50,000 products, available on its website and app. The company raised Series C funding at the end of 2019 from Goldman Sachs and Verlinvest.