Category: Blogs

Purplle raises $120 Mn led by ADIA; to buyback ESOPs worth $6 Mn Purplle, an online beauty and grooming products marketplace, has raised Rs 1,000 crore ($120 million) in a funding round led by Abu Dhabi Investment Authority's subsidiary, with other investors participating. This round includes primary and secondary shares, estimating Purplle’s valuation at $1.2-$1.3 billion. Additionally, Purplle launched its largest-ever ESOP liquidity program worth Rs 50 crore ($6 million), with 320 employees holding ESOPs, and 85 having liquidated Rs 75 crore ($9 million) over three buyback programs. Purplle, which became a unicorn in June 2022 with a $1.1 billion valuation, serves tier II, III, and micro-markets. The company, operationally profitable, has grown its GMV by 4x in three years and aims to expand online and offline. For FY23, Purplle reported Rs 475 crore in revenue with a Rs 230 crore loss, up from FY22's Rs 219 crore revenue and Rs 203 crore loss. In October 2023, JSW Ventures exited Purplle through a sale to MEMG.