Indian online beauty retailer Purplle has raised $120 million in a funding round led by a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA). This latest capital infusion has elevated the company’s valuation to $1.3 billion. The funding will be chiefly allocated towards technological advancements and exploring offline store formats to boost retail expansion. Purplle’s investor roster includes notable names such as Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume Ventures, and Paramark Ventures. Recently, ADIA has also made other strategic investments in India, such as acquiring a minority stake in Paras Defense and Space Technologies and partnering with KKR to invest in the warehousing assets of Reliance Industries Limited.
Beauty and Personal Care, Private Equity and Venture Capital,India, United Arab Emirates
https://www.zawya.com/en/wealth/wealth-management/indias-purplle-raises-120mln-in-funding-round-led-by-uaes-adia-report-y4tsuyf5