The beauty and grooming eCommerce platform has raised Series A round of funding from IvyCap Ventures in the beginning of the concluding year 2015.
Leading beauty destination Purplle.com is set to raise the Series B round of funding for over Rs99 Crore from an undisclosed investor.
In an exclusive conversation with WI Bureau, Manish Taneja, Co-Founder and CEO, Purplle.com unveiled the news.“We are raising our Series B round to the tunes of $15 million,” informed Taneja.
Significantly, the Mumbai-based beauty start-up has raised an undisclosed amount in Series A funding from IvyCap Ventures with participation from existing investor Blume Ventures.
Prior to this, the company had also raised funds from Blume Ventures, Chennal Angels and Mumbai Angels in 2013. It had also raised seed investment from unnamed angel investors in March 2012, says media reports.
With an aim to use the funds raised to grow its fulfillment capacity and its marketing efforts, Purplle.com is aiming to extend it physical presence in Delhi market after Mumbai.
“We accept booking for salons and spas in 15 cities. Purplle Salon is only based in Mumbai as of now, coming soon to Delhi,” added Taneja.
Founded in 2011, Purplle.com has been an early mover in the online beauty space and has seen a robust rate from 2014 till date. The online retailer is one of the most sought-after beauty venture in Indian market.