Home > Internet > Beauty products marketplace Purplle.com raises funds from JSW Ventures, others


Beauty products marketplace Purplle.com raises funds from JSW Ventures, others

Manish Taneja, co-founder and CEO, Purplle.com

Manish Taneja, co-founder and CEO, Purplle.com

Mumbai-based Manash Lifestyle Pvt. Ltd, which operates beauty products  and services marketplace Purplle.com, has secured funding from investors led by JSW Ventures.

Existing investors Blume Ventures and IvyCap Ventures also took part in the round, the company said in a statement.

The company didn’t disclose the amount raised but The Economic Times reported earlier in the day that it secured $6 million (Rs 40 crore) in a Series B round of funding.

Purplle.com co-founder and CEO Manish Taneja said in the statement the company will use the funds to strengthen its technology “to enable content-driven beauty discovery, create deeper salon integration and expanding our supply to include exclusive brands and our own labels”.

Purplle.com is an e-commerce platform that offers products pertaining to skin care, make-up, haircare, body care and beauty appliances. It lists salons and spas in cities including Delhi, Mumbai and Gurgaon along with their contact numbers, addresses, reviews and offers.

The startup was founded by Taneja and Rahul Dash in late 2011, and the website went live in January 2012. Taneja is an IIT Delhi alumnus while Dash studied at IIT Kharagpur and IIM Ahmedabad.

In January 2015, Purplle.com secured an undisclosed amount in its Series A round of funding from early-to-growth-stage VC firm IvyCap Ventures.

The company had raised an undisclosed sum in seed funding from Blume Ventures, Mumbai Angels and Chennai Angels in August 2013.

In the broad fashion space, a slew of startups have raised funding over the past two months.

Last month, Voonik Technologies Pvt. Ltd raised $20 million (about Rs 134 crore) in a Series B round of funding led by venture capital firm Sequoia Capital.

Online fashion rental platform Blinge raised an undisclosed amount in its first round of funding in May while Gurgaon-based fashion discovery app Roposo raised $5 million in April.

Like this report? Sign up for our daily newsletter to get our top reports.

Leave a comment