Ending Soon! Save 33% on All Access

e-Beauty Startup Purplle Turns Unicorn With $33 Million Series E Round The fresh capital will be invested in developing better technology, build private labels and strengthen the product

By Akshit Pushkarna

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Representative Image

Online beauty startup Purplle announced the raise of $33 million in an Series E funding round. The funds round was led by South Korean Investment firm Paramark Ventures and saw participation from Purplle's existing backers Premji Invest, Blume Ventures, and Kedaara Capital, the company said in a statement. With the latest round of funding, the Mumbai based company, took its valuation to over a billion dollars and became the second Indian company to achieve the unicorn status this week. Purplle has raised a total funding of $215 million since its establishment in 2012 and is currently valued at $1.1 billion. It was set up by entrepreneur duo Manish Taneja (who acts as the company's CEO) and Rahul Dash (who acts as the COO). The fresh capital will be invested in developing better technology, build private labels and strengthen the product.

17 Indian companies have turned unicorn in 2022. Purplle is the second D2C brand to turn unicorn this year, trailing Mamaearth. The more recent company to turn unicorn was Physicswallah, after they raised $100 million series-A fund at a $1.1 billion valuation.

Purplle, "the beauty e-tailer", has over 1000+ brands with nearly 50,000 products available across its website and app. It has over 800 employees and reported to be growing at a 90 percent Y-o-Y rate as of 2021.

The company last closed a Series D round at $45 million in March 2021.

Akshit Pushkarna

Features Writer

Leadership

How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Side Hustle

These Brothers Had 'No Income' When They Started a 'Low-Risk, High-Reward' Side Hustle to Chase a Big Dream — Now They've Surpassed $50 Million in Revenue

Sam Lewkowict, co-founder and CEO of men's grooming brand Black Wolf Nation, knows what it takes to harness the power of side gig for success.

Growth Strategies

AI Agents Startup Secures $4M to Revolutionize Customer Onboarding & Retention

Under the leadership of Gaurav Aggarwal and Anuja Verma, Truva AI has created an innovative solution for customer onboarding and retention, leveraging sophisticated AI agents.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Gurugram-based Wealth Management Firm Finvolve Closes Maiden INR 100 Cr Fund, Launches Two New Funds

Finvolve also announced the launch of two new funds, pre-seed Accelerator Fund and Scale Fund, including a GIFT city, with an investment capacity of around INR 500 crore to widen its investment spectrum: Accelerator, Seed, and Scale.

News and Trends

The Practical Teacher: Acharya Prashant

IIT Delhi, Tata Institute of Social Sciences, Symbiosis, Institute of Management Technology - these were some of the places where he was engaging with the students. Traveling to several institutes in different cities, and teaching a new concept was hectic and challenging