Ecommerce platform Purplle raised $50-60 million in funds from the sovereign fund, Abu Dhabi Investment Authority (ADIA).
The ADIA investment is a continuation of the previously disclosed Series E transaction, and the Emirati sovereign fund has acquired a portion of JSW’s equity. ADIA, by the way, is also making a small initial investment in Purplle.
Purplle is also hoping to grow its physical base in order to become omnichannel, as well as acquire a handful of businesses in the process. Purplle sells beauty items and gadgets. Plum, WOW Skin Science, mCaffeine, Maybelline, and SUGAR Cosmetics are among the D2C brands available on its marketplace. The unicorn claims to have over 1,000 companies and 60,000 products listed on its site. It also claims 7 million users.
