Welcome Guest

Businessex.Com
Home News IvyCap Ventures invests in beauty and grooming e-commerce venture Purplle.com

IvyCap Ventures invests in beauty and grooming e-commerce venture Purplle.com

Tags: Purplle.com, e-commerce, Series A, IvyCap Ventures

January 07, 2015 | COMMENTS ( 0 )

IvyCap Ventures invests in beauty and grooming e-commerce venture Purplle.com

Purplle.com, a leading beauty and grooming e-commerce platform in India today announced that it has raised Series A round of funding from IvyCap Ventures. The funding is primarily for aggressively growing its marketing efforts and fulfillment capacity.

Founded in 2011, Purplle.com has been an early mover in the online beauty space. It raised angel funding from marquee Indian angel investor groups and has grown at a robust rate through 2014. The company is now well poised to aggressively grow sales through its e-commerce platform, and expand beyond e-commerce to salon listings, discovery, and related rich content and intelligent features.

Speaking on the occasion of the announcement, Manish Taneja, Co-founder and CEO of Purplle.com said, "It is an exciting phase of our growth journey. We have clearly demonstrated cost efficient scale up in our beauty products market place business and are making rapid inroads into the beauty services market. With this round of funding, we are confident we will establish ourselves as India's top destination for beauty."

Beauty and wellness e-commerce is one of the largest potential market segments in India that is yet to see a dominant player emerge in India, and Purplle.com has taken an early head start in the space. It now boast the widest variety of Indian and International beauty brands across pricing points amongst similar players in the category, and significant repeat buying behaviour. Internationally beauty and wellness has been fertile grounds for the creation of several billion dollar start-ups in recent years - Jumei.com (China), Sephora, Birchbox being a few.

"We strongly believe several e-commerce verticals remain relatively untapped in India, and that niche players with rich content and in-built intelligent discovery features are going to be the next wave of value creation, especially in the Indian context. Against this backdrop, beauty and wellness is of particular interest, as it is a fast growth sector with inherent loyalty characteristics far beyond many other verticals. Purplle.com has attracted our interest and capital, due to their razor sharp focus on executing a vertical specific strategy, and due the team's significant capabilities and vision" said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures.

Gupta will be shortly joining the board of Manash Lifestyle Pvt. Ltd. on behalf of IvyCap Ventures. IvyCap invests in startups and growth stage companies across sectors including technology, education, energy, healthcare and agriculture. Its recent investments includes Reuters Market Light, Aujas Networks,Vinculum, FieldEz Solutions, E-Shakti and Leixir Labs.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....