Beauty retailer Purplle secures $33 million funding

The fresh round of investment takes the total funding to over $215 million at a valuation of $1.1 billion

Purplle.com has previously received four rounds of funding from investors closing 2021 with a Series D of $ 140 million
Purplle.com has previously received four rounds of funding from investors closing 2021 with a Series D of $ 140 million

Online beauty and personal care products retailer Purplle.com, on Thursday announced its entry into the unicorn club. Welcoming South Korean investors Paramark Ventures to the cap table, Purplle raised $33 million along with existing investors Premji Invest, Blume Ventures, and Kedaara. The fresh round of investment takes the total funding to over $215 million at a valuation of $1.1 billion. 

“We welcome our new investor, Paramark Ventures, and look forward to cross-country synergies. The infusion is an opportunity to further our mission of building the beauty industry in India with technological investments, scaling of our private brands, and industry-first innovations. Staying true to our purpose of making Purplle ‘Har Indian Ka Beauty Destination’ we are strongly positioned for the next phase of accelerated growth,” Manish Taneja, co-founder, and CEO, Purplle.com, said. 

Purplle.com has previously received four rounds of funding from investors closing 2021 with a Series D of $ 140 million. Over the years, the company claims to have grown exponentially; with seven million monthly active users, over 1,000 brands, 60,000 products, and five private DTC brands. 

We have been tracking Purplle for several years now, Chunsoo Kim, founder and managing partner, Paramark Ventures, said. “Purplle is addressing the enormous vacuum in the beauty and personal care industry in India in a way that the rising demand from massive Indian consumers can be best served beyond the limited set of customers in a few major cities. And, we find the team’s determination and endeavor to build a long lasting business to serve such needs of the Indian market through technology and customer delight both apparent and inspiring,” Kim added further.

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