Online beauty platform Purplle.com has raised $65 million bringing Premji Invest as an investor. The company has closed $140 Million Series D funding after the investment from Premji Invest. The infusion will accelerate the company’s growth to build a multibillion-dollar company from India.
The funding is also expected to help Purplle compete with traditional players and online beauty platforms such as Nykaa, MyGlamm and Myntra.
Purplle.com was founded in 2012 and is one of the largest e-beauty destinations in India, with over seven million monthly active users.
Manish Taneja, Co-Founder and CEO of Purplle.com said, “The investment will leapfrog our efforts to offer women personalised beauty experiences, expand our wide range of innovative products, and drive penetration across the country.”
Atul Gupta, Partner at Premji Invest, said democratising beauty will continue to be a dominant theme in India and customers today are looking for products that specifically cater to their skin and personal health and enhance their beauty.
