Sequoia-backed beauty firm lands $140m fundraise

Purplle, an India-based online beauty platform, said it has raised US$140 million in a new financing round.

More funding details

• Lead investor: Kedaara Capital
• Other investors: Premji Invest, Sequoia Capital India, and Blume Ventures.
• Stage: Series D

More company updates

• Purplle said the latest investment will bolster its goal of delivering 6x to 8x growth in its business in the next five years.
• Currently, the firm houses over 1,000 brands, with more than 50,000 products across categories like make-up, skincare, haircare, personal care, fragrances, and grooming appliances.
• The startup said it has ramped up its marketing investments by 2x over the past year while also doubling its rate of acquiring new customers.
• The company added that its gross merchandising value has jumped 6x in the last three years and is currently at a run rate of 1,200 crore rupees (US$161.3 million).
• Purplle said about 65% to 70% of its revenue comes from returning users. Meanwhile, Elite, Purplle’s loyalty program, contributes 25% of the platform’s revenue.
• In March, the company raised US$45 million in a financing round led by Sequoia Capital India.

Currency converted from Indian rupees to US dollar: US$1 = 74.38 rupees.

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