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Purplle makes final close of Rs 1,500 crore funding in round led by Abu Dhabi Investment Authority
Economic Times
·
9m ago
Medial
Beauty retailer Purplle has concluded its latest funding round at INR 1,500 crore ($201 million), an increase of INR 500 crore. Abu Dhabi Investment Authority (ADIA) led the round, with participation from existing investors Premji Invest and Blume Ventures, as well as new investor Sharrp Ventures. The funds will be used to further develop Purplle's omnichannel offerings and enhance the customer experience. Purplle aims to empower every Indian to feel beautiful through innovative technology and data capabilities.
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ADIA-backed Purplle closes Series F at $178 mn, Sharrp Ventures joins cap table
VCCircle
·
9m ago
Medial
Indian beauty platform Purplle has announced the closure of its Series F funding round, raising INR 1,500 crore (approximately $178.4 million). The round was led by existing investor Abu Dhabi Investment Authority (ADIA) and valued Purplle at $1.25 billion. ADIA invested $120 million in this round and now owns close to a 10% stake in the company. Other existing investors, including Premji Invest and Blume Ventures, also participated in the round, as did new investor Sharrp Ventures. Purplle operates an omnichannel platform selling beauty products and has seen significant growth in its revenue and narrowed its EBITDA loss.
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Ranjan Pai-led Manipal Group invests in online beauty products retailer Purplle
Economic Times
·
1y ago
Medial
Manipal Group, led by Ranjan Pai, has invested in Mumbai-based online beauty products retailer Purplle in a secondary transaction. The investment involved the purchase of shares from JSW Ventures. This comes after JSW Ventures partially sold its stake in Purplle to the Abu Dhabi Investment Authority in May. The startup recently closed a funding round of $40-50 million, valuing the company at $1.1 billion.
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JSW Fund I exits Purplle with 2.7X return
Entrackr
·
1y ago
Medial
JSW Ventures has sold its shareholding in online beauty marketplace Purplle to Manipal Education & Medical Group Family Office (MEMG), earning a 2.7-fold return on its investment. This marks a secondary transaction for Purplle this year, following JSW Ventures' previous sale to Abu Dhabi Investment Authority (ADIA). JSW Ventures had initially invested in Purplle's Series A round in 2016. Purplle recently raised $33 million in a Series E funding round, achieving a unicorn valuation of $1.1 billion.
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Startup funding rises 97% YoY to $242 million this week
Economic Times
·
1y ago
Medial
Startups raised $241.7 million in the first week of July, a 96.5% increase compared to the same period last year. However, this marks a 38.5% decline from last week's funding total. Beauty retailer Purplle secured the largest deal, closing a $120 million funding round led by the Abu Dhabi Investment Authority, valuing the company at $1.3 billion. Other notable deals include Oyo raising $50 million, Arya.ag raising $29 million, Rare Rabbit securing $18 million, and Dice raising $5 million.
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Purplle Seeks $100 Mn Investment From ADIA, Plans More Offline Stores
Inc42
·
1y ago
Medial
Beauty ecommerce marketplace Purplle is planning to expand its offline presence by opening 5-10 more stores in the coming months. The company is also in discussions with Abu Dhabi Investment Authority (ADIA) for a $100 million investment. Purplle aims to tap into the growing preference for hybrid shopping and increased spending on beauty products. While the majority of its revenue currently comes from online operations, the company sees potential in offline stores to cater to customers in tier-2 and tier-3 cities. The planned investment from ADIA is expected to be a part of Purplle's pre-IPO round.
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From Purplle To Matter – Indian Startups Raised $176 Mn This Week
Inc42
·
1y ago
Medial
Indian startups secured approximately $176 million in funding across 16 deals between July 1 and July 6. The largest funding activity was the $120 million investment in Purplle by Abu Dhabi Investment Authority. Agritech startup Arya.ag, based in Delhi NCR, is also in the process of raising $29 million from a new investor, Blue Earth Capital.
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Purplle plans offline push amid talks to raise $100 million from Abu Dhabi fund
Livemint
·
1y ago
Medial
Online retailer Purplle is reportedly negotiating with Abu Dhabi Investment Authority (ADIA) for a $100 million investment, primarily through a secondary transaction. This potential investment would support Purplle's plans to open more offline stores in addition to its two current locations. The company is looking to tap into the offline market as consumers seek hybrid shopping experiences and gradually resume pre-pandemic lifestyles. Purplle plans to expand its offline presence while continuing to focus on its online operations, where it currently generates 99% of its revenue.
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Capital Group offloads 4.3% stake in SIS for Rs 258 Cr
YourStory
·
11m ago
Medial
On Wednesday, Capital Group, a financial services company, sold a 4.3% stake in cash logistics solutions provider SIS for over Rs 258 crore. The shares were sold through open market transactions, with Abu Dhabi Investment Authority purchasing shares in the company. Capital Group's affiliates, Smallcap World Fund and American Funds Insurance Series Global Small Capitalization Fund, sold a total of 62,26,115 shares at Rs 415 per share. Additionally, Abu Dhabi Investment Authority Stable and 360 One Mutual Fund bought 51.79 lakh shares, amounting to a 3.6% stake, for Rs 214.95 crore.
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Purplle raises $120 Mn led by ADIA; to buyback ESOPs worth $6 Mn
Entrackr
·
1y ago
Medial
Online beauty and grooming products marketplace Purplle has raised Rs 1,000 crore (approximately $120 million) in a round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) with participation from other investors. The latest round includes a combination of primary and secondary shares. While the company did not disclose its current valuation, media reports estimate it at around $1.2-$1.3 billion. In addition to the funding round, Purplle has announced its largest-ever employee stock ownership plan (ESOP) liquidity program worth Rs 50 crore ($6 million). As per the company, it has granted ESOPs to 320 employees to date, and 85 of them have liquidated ESOPs worth Rs 75 crore ($9 million) over three buyback programs. In June 2022, Purplle raised $33 million in its Series E round from South Korea’s Paramark Ventures and turned unicorn with a valuation of $1.1 billion. The Manish Taneja-led company is primarily a marketplace but also sells its own labels such as Good Vibes. The company serves the beauty needs of customers in tier II, III and micro-markets, expanding beyond metro cities. Purplle claims that it is operationally profitable and has grown its GMV by around 4x over the last three years. It expects to grow its online platform faster than the industry while scaling offline stores and improving profitability. For the fiscal year ending March 2023, Purplle reported Rs 475 crore in operating revenue along with a loss of Rs 230 crore, according to startup data intelligence platform TheKredible. In the previous fiscal year (FY22), its revenue and losses stood at Rs 219 crore and Rs 203 crore, respectively. This will be the second secondary transaction for Purplle within a year. In October 2023, JSW Ventures exited the Gurugram-based company through a sale to Manipal Education & Medical Group Family Office (MEMG).
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Abu Dhabi wealth fund ADIA bets $120 mn more on Purplle
VCCircle
·
1y ago
Medial
Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund, has invested an additional $120 million in Indian online beauty retailer Purplle. ADIA had also invested $50 million in the company last year. Purplle plans to use the funding to enhance its omnichannel offerings and improve customer experiences. The company, which competes with numerous beauty brands in India, including Nykaa and L'Oreal, reported a revenue of INR 475 crore ($64 million) for FY23. It also provided liquidity worth INR 50 crore to employees through an Employee Stock Ownership Plan.
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