Purplle, an online beauty and personal care brand, have now revealed that it has now secured $8 million from Verlinvest as a part of its Series C funding round.
The investment follows Purplle’s $30 million fund raise from Goldman Sachs and some other existing investors in the month of December 2019.
According to the startup report, the funding raising will be going to be utilized to strengthen its supply chain, innovation and technology capability further as well as to build the brand further.
Commenting on the fund-raise, Manish Taneja, Co-founder and CEO, Purplle, said,
“We are happy to welcome Verlinvest, a long-term, high-quality investor into the Purplle family. This investment aligns with our intent of creating a sustainable multi-decade enterprise.”
Speaking on the investment, Arjun Anand, Head of Investments-India, Verlinvest, said,
“We are excited to partner with Purplle and its founders to build a unique platform in beauty and personal care. We believe consumer preferences are changing rapidly with online penetration in this space, and Purplle has great momentum to delight the Indian consumers.”