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Online personal care platform raises US$8 million in funding


Global investor Goldman Sachs-backed online beauty and personal care platform on Monday said it has raised US$8 million (around Rs 56 crore) from Belgium-based investment firm Verlinvest in series-C funding round.

Online personal care platform raises US million in funding

This new fundraising follows the US$30 million capital infused by few investors including the US-based Goldman Sachs, IvyCap Ventures, Blume Ventures and JSW Ventures in December 2019.

“The funding from Verlinvest will be utilised to further strengthen Purplle’s supply chain, innovation and technology capabilities as well as for brand building,” said in a statement.

Verlinvest has over 1.6 billion euro of assets under management and its Indian portfolio includes brands such as Byju’s, Sula Wines, Epigamia, Veeba Foods and Future Consumer.

“This investment aligns with our intent of creating a sustainable multi-decade enterprise,” Co-Founder and Chief Executive Officer Manish Taneja said.

Launched in 2012, the company has raised US$10 million over the past six years.

Verlinvest India Head of Investments Arjun Anand said, “we believe consumer preferences are changing rapidly with online penetration in this space and Purplle has great momentum to delight Indian consumers.”

IndigoEdge acted as the exclusive financial advisor to in the fund raise, the release said.

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