Purplle Closes Rs 1,500 Cr Series F Funding Round Led By Abu Dhabi Investment Authority
New investors, such as Sharrp Ventures, have also joined the cap table
Purplle, an omnichannel beauty platforms, has announced the final closure of its Series F funding round, securing an investment of Rs 1,500 crore. This round, led by a subsidiary of ADIA, saw additional participation from existing investors, including Premji Invest and Blume Ventures, who have significantly increased their commitments.
New investors, such as Sharrp Ventures, have also joined the cap table. This significant round will bolster Purplle's mission to democratize beauty, leveraging technology and further enhancing its ability to bridge the accessibility gap in the beauty industry.
Speaking on the investment Manish Taneja, Co-Founder and CEO at Purplle said, “As we continue to innovate and 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 shared a comment on their newest investment,“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. Our business model focuses on building strategic partnerships with a common purpose, and this investment is a testament to Sharrp’s ability to identify and invest in market leaders with aligned goals who will benefit from shared success.”
