Purplle in Early Talks for $100 Million Funding from UAE
ADIA invested more than $50 million in Purplle in May 2023, a move that valued Purplle at $1.1 billion.
Purplle, an Indian e-commerce platform specializing in beauty products, is reportedly in early discussions for a $100 million investment from the Abu Dhabi Investment Authority (ADIA), according to sources cited by the Indian business publication Mint.[1]
Sources indicate that the investment, if realized, will likely involve a secondary transaction, allowing early investors to exit the startup. This funding round could potentially precede Purplle's anticipated initial public offering (IPO) in the coming years.
ADIA invested more than $50 million in Purplle in May 2023, a move that valued Purplle at $1.1 billion.
Looking ahead, Purplle aims to expand its presence by opening more physical stores, catering to customers who prefer a blend of online and offline shopping experiences.
Established in 2012, Purplle’s platform hosts over 1000 brands with 60,000 products, and a user base of 7 million monthly active users.
In 2022, Purplle established 6,000 offline touchpoints and inaugurated 8 exclusive stores.
Purplle became India's 102nd unicorn in the same year thanks to investors like ADIA, Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume Ventures, and Paramark Ventures.