Online personal care platform Purplle.com raises USD 8 million in funding
This new fundraising follows the USD 30 million capital infused by few investors including the US-based Goldman Sachs, IvyCap Ventures, Blume Ventures and JSW Ventures in December 2019.
"The funding from Verlinvest will be utilised to further strengthen Purplle's supply chain, innovation and technology capabilities as well as for brand building," Purplle.com said in a statement.
Verlinvest has over 1.6 billion euro of assets under management and its Indian portfolio includes brands such as BYJU'S, Sula Wines, Epigamia, Veeba Foods and Future Consumer.
"This investment aligns with our intent of creating a sustainable multi-decade enterprise," Purplle.com co-founder and CEO Manish Taneja said.
Launched in 2012, the company had raised USD 10 million over the past six years.
Verlinvest India Head of Investments Arjun Anand said, "We believe consumer preferences are changing rapidly with online penetration in this space and Purplle has great momentum to delight Indian consumers."IndigoEdge acted as the exclusive financial advisor to Purplle.com in the fund raise, the release said. PSK HRS
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