15 December 2017, India:
According to a VCCircle, Mumbai based beauty and grooming e-Commerce platform Purplle has raised ₹3.44 crore ($537,000) in a fresh funding round from a clutch of investors.
The round was led by Mountain Pine Capital and Suncoast Investments. Some individual investors also participated in the funding round.
Purplle has not given any official statement on this. In July last year, the company raised an undisclosed funding from JSW Ventures, Blume Ventures and IVyCap Ventures.
The company raised its Series A funding from early-to-growth stage VC firm IvyCap Ventures. It raised its seed funding in August 2013 from Blume Ventures, Mumbai Angels and Chennai Angels.
Puplle was founded by Rahul Dash and Manish Taneja in 2011. It is an online store selling cosmetics, fragrances, and skin and hair care products. It currently associates with more than 200 brands in the masstige to premium brands.
It has been an early mover in the online beauty space. It competes with the likes of Nykka.com (operated by FSN Ecommerce Ventures Pvt. Ltd.).
The company has not filed its financial statement for 2016-17 till now. It 2015-14 filings shows that its revenue increased to ₹29.7 crore during 2015-16 from ₹8.42 crore in 2014-15.
(Image – MouthShut)