Ecommerce for beauty products marketplace Purplle raised $49 million in a continuation of Series D from the family office of Wipro founder chairman Azim Premji. Recently Purplle closed $75 million as part of its series D round led by new investor Kedaara Capital in participation with Sequoia Capital India, Blume Ventures.
Purplle is a multi-brand beauty store that sells cosmetics and wellness items. Purplle is allotting a total of 8,263 Series D compulsory convertible preference shares to Premji Invest's PI Opportunities Fund I scheme for $44 million, representing an 8.43 %. The investment will help the brand achieve its goal of doubling its revenue in 4-5 years. Purplle has approximately seven million monthly active users and offers over 1000 brands and nearly 50,000 products on the platform.