Funds make a beeline for beauty platforms; Purplle raises $100 million
venture capital and private equity funds, buoyed by post-Covid demand that continues to grow.
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In the latest instance, Abu Dhabi’s sovereign fund ADIA has led a $100-million financing in a mix of primary and secondary investment in Mumbai-based beauty retailer Purplle at a $1.2-1.3-billion valuation – a jump of around 15% from its previous fundraise last year, people aware of the development said.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitCreaegis – a sector agnostic PE fund founded by former Premji Invest partner Prakash Parthasarathy that has invested in Third Wave Coffee – is expected to join Purplle’s funding round as a new investor and talks are in final stages of closing, sources said. Premji Invest – an existing investor in Purplle – has also doubled down on the firm, people briefed on the matter said.
In a secondary share sale, existing investors sell shares to new investors and the money doesn't go to company coffers.
MCaffeine, a caffine-based skincare and haircare brand, is also in middle of fundraise process and it is exploring to tap strategic investors besides ongoing
