Beauty ecommerce marketplace Purplle has raised INR 1,000 Cr (about $120 Mn) in a funding round led by a subsidiary of the Abu Dhabi Investment Authority (ADIA).
The round, which was a mix of primary and secondary share sale, also saw participation from other investors, the startup said in a statement, without disclosing their names.
Commenting on the funding, Purple cofounder and CEO Manish Taneja said, “We will constantly innovate and leverage our technology and data capabilities to provide our customers with the best omnichannel experience. In increasing its shareholding in Purplle, ADIA has continued to support us as we pursue our vision of building a sustainable and profitable business.”
In addition to the funding round, Purplle announced its largest-ever Employee Stock Ownership Plan (ESOP) liquidity programme, offering liquidity of INR 50 Cr to its employees.
Purplle said it has granted ESOPs to 320 employees till date, of which 85 have liquidated INR 75 Cr worth options across three buybacks. In the new ESOP liquidity programme, 26% of beneficiaries are women.
Founded in 2012 by Manish Taneja and Rahul Dash, Purplle sells beauty products and appliances. It sells products of several D2C brands, including Plum, WOW Skin Science, mCaffeine, Maybelline and SUGAR Cosmetics, on its platform.
(The story will be updated soon.)
