MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

E-Beauty Platform Purplle is India’s latest Unicorn

E-Beauty Platform Purplle is India’s latest Unicorn

The new capital will be used to strengthen its product and invest in technology

Online cosmetic retailer, Purplle has become India’s latest unicorn. The brand has crossed $1.1 billion in capital, becoming the second billion-dollar company created in India this week. The Mumbai-based firm raised $33 million of Series E financing from South Korea’s Paramark Ventures and existing backers Blume Ventures, Kedaara, and billionaire Azim Premji’s Premji Invest. Purplle is a worthy competitor of Nykaa, a company that had one of India’s most successful market debuts. Nykaa is currently valued at $8.7 billion. Purplle has secured a total funding of $215 million. The new capital will be used to strengthen its product, invest in technology and develop its private labels.

Formally known as Manash Lifestyle Pvt, Purplle was set up in 2012 by Taneja, Rahul Dash, and Suyash Katyayani, three engineers from the Indian Institute of Technology. The platform offers around 60,000 beauty and personal care products and accessories from over 1,000 brands on its website and app. With the onset of the pandemic, there has been a rise in online shopping, which has translated to rapid online growth for niche players in beauty and fashion, among others. The absence of brick-and-mortar beauty retailers and finding all products in a single site has increased opportunities for start-ups like Purplle.

YOU MAY ALSO LIKE

Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

RECOMMENDED