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Exclusive: Salman Khan and Sachin Tendulkar join Purple Style Labs new round

EntrackrEntrackr · 6m ago
Exclusive: Salman Khan and Sachin Tendulkar join Purple Style Labs new round
Medial

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), is raising Rs 102 crore (approximately $12 million) in a new funding round from more than eighty investors. The board at Purple Style Labs has passed a special resolution to issue 2,040 preference shares at an issue price of Rs 5,00,000 each in the last 3 months to raise Rs 102 crore or $12 million, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Minerva Ventures Fund, Cordelia Family Trust, S Four Capital, and Sopariwala Exports will invest Rs 10 crore, Rs 5 crore, Rs 6 crore, and Rs 5 crore, respectively. The remaining amount will be contributed by individual investors, including Sachin Tendulkar, Salman Khan, Surya Kumar Yadav, Shraddha Kapoor, Sailesh Gupta, Pravesh Dhandhania, Fahim Sultan Ali, and 73 other individual investors. The company will use these proceeds for general corporate purposes and to meet working capital requirements. As per Entrackr’s estimates, the company will be valued at around $400 million post-allotment. Founded in 2015 by Abhishek Agarwal, Purple Style Labs is a luxury fashion platform housing Pernia’s Pop-Up Shop and The Stylist. Since acquiring Pernia’s Pop-Up Shop in 2018, it has expanded to 15 experience centers across major Indian cities and London. Purple Style Labs recorded a 36% year-on-year growth, with its revenue rising to Rs 508 crore during the last fiscal year from Rs 372 crore in FY23. However, this expansion came at a cost, as its losses increased by 20%, reaching Rs 45.6 crore in the past fiscal year. Purple Style Labs is gearing up for an initial public offering (IPO) in 2026 and has set a target of $200 million in gross sales for the upcoming year.

FES Cafe raises seed round led by Aakash Anand and Wolfpack Labs

EntrackrEntrackr · 2m ago
FES Cafe raises seed round led by Aakash Anand and Wolfpack Labs
Medial

Snippets FES Cafe raises seed round led by Aakash Anand and Wolfpack Labs Dessert-led cafe chain FES Cafe has raised Rs 3 crore in a seed funding round led by Aakash Anand and his venture studio Wolfpack Labs. The fresh funds will be utilized for expansion, including its entry into Delhi this July, and accelerate its vision of building a national, dessert-first Cafe brand rooted in culture, community, and indulgence, FES Cafe said in a press release. Founded by Vidur Mayor, FES Cafe is an eggless dessert cafe chain focused on indulgence, innovation, and community. It is positioned as a third space for young India, offering baked cookies, puddings, alternative-ingredient cakes, seasonal desserts, savoury dishes, changing dessert menus, arcade game sections, and community formats such as Coffee Raves to build a distinct cafe experience. Since launching, FES says it has tripled its revenue in the first three months, reached store-level EBITDA of 29.8% by the fourth month, and grown delivery revenue by 347% in 90 days. As of June 2025, it was processing over 10,000 monthly orders and became EBITDA-positive at the company level within four months. The Gurugram-based cafe plans to open its first Delhi outlet in July, followed by a second Gurugram store in a corporate park in September 2025. It aims to launch over 100 stores by FY 2027 across Tier 1 and Tier 2 cities. The company is also developing a hybrid COCO and FICO model, along with delivery-focused hubs and packaged desserts to expand beyond physical cafes.

Exclusive: Purple Style Labs to raise Rs 750 Cr via fresh issue in IPO

EntrackrEntrackr · 7d ago
Exclusive: Purple Style Labs to raise Rs 750 Cr via fresh issue in IPO
Medial

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), is set to raise Rs 750 crore ($85 million) through a fresh issue of shares as part of its upcoming initial public offering (IPO). According to regulatory filings accessed by Entrackr, the company's board approved a special resolution to issue up to Rs 750 crore in fresh equity, with no mention of an offer for sale (OFS). The filings indicate a potential pre-IPO placement of up to Rs 140 crore. If completed, the size of the main offer will be reduced by the number of equity shares issued in the placement. As per media reports, the company is expected to go public in 2026. In March, Purple Style Labs (PSL) raised around $40 million in its Series E round led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund. The round also saw the participation of several celebrities and sports personalities including Salman Khan and Sachin Tendulkar. Founded in 2015 by Abhishek Agarwal, Purple Style Labs is a luxury fashion platform featuring Pernia’s Pop-Up Shop and The Stylist. Since acquiring Pernia’s in 2018, it has expanded to over 15 experience centers across major Indian cities and London. According to startup data intelligence platform TheKredible, the Mumbai-based firm has raised over $87 million to date from investors including Binny Bansal, Volrado Venture Partners and others. Purple Style Labs’ revenue from operations grew 36% year-on-year to Rs 508 crore in FY24 from Rs 372 crore in FY23, while losses rose 20% to Rs 45.6 crore. The company has yet to file its FY25 financials.

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