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Beauty etailer Purplle joins unicorn club after raising $33 million Purplle

Beauty etailer Purplle joins unicorn club after raising $33 million

India Blooms News Service | @indiablooms | 10 Jun 2022, 05:19 pm

Mumbai: Beauty etailer Purplle entered the unicorn circuit after raising $33 billion from Paramark Ventures at a valuation of $1.1 billion.

Purplle became the second Indian tech-startup unicorn this week, after Edtech company, Physics Wallah, attained the status after raising $100 million in its maiden funding round led by WestBridge Capital and GSV Ventures.

Existing investors Premji Invest, Blume Ventures, and Kedaara Capital also participated in the round.

So far the company has raised $215 million including the latest round.

Its earlier investors include Goldman Sachs and Verlinvest.

Purplle was co-founded by Manish Taneja and Rahul Dash in 2012.

Its Gross Merchandise Value (GMV) stood at $180 million in FY22.