In a Series F fundraising round, the omnichannel cosmetics platform Purplle has closed at a cost of Rs 1,500 crore, or roughly $180 million. Leading this round was a division of the Abu Dhabi Investment Authority (ADIA), with notable contributions from current investors Blume Ventures and Premji Invest, both of which upped their investments. In this round, new investors Sharrp Ventures was among them.

Purplle received the first finance tranche in July, totaling around $120 million (or Rs 1,000 crore). Sources claim that the Manish Taneja-led company is worth between $1.2-1.3 billion after this latest funding round. It reached a unicorn with a $1.1 billion valuation in June 2022 after raising $33 million from Paramark Ventures in South Korea in its Series E funding round.

Purplle's goal of enabling everyone to experience beauty will be aided by this investment round. According to a news release from the company, it intends to use technology to improve how customers find and buy beauty goods and services, reaching a wider audience.

A marketplace and its own brands, such as Faces Canada, Good Vibes, Alps Goodness, Carmesi, and DermDoc, are Purplle's two business strategies. The company was founded in 2012. 20,000 offline touchpoints and more than 10 million monthly consumers are reached by its web platform.

With scaled expansion and cost control, especially in advertising, Purplle's revenue increased to Rs 680 crore in FY24, while losses decreased by 46% to Rs 124 crore from Rs.230 crore in FY23.

Purplle stated having Rs. 109 crores in cash and bank accounts as of March 2024. The company's enterprise value to revenue ratio was 15.8x, according to Entrackr estimations.

Purplle also gave $6 million in ESOP buybacks to staff members in the previous 12 months, and it gave JSW Ventures an exit route through the sale of secondary shares.