PE Fund Investments
Beauty retailer Purplle raises $120-M led by ADIA at $1.3 B valuation
Mumbai-based beauty retailer Purplle has raised INR 1,000 crore (around USD 120 million) in a round led by Abu Dhabi Investment Authority (ADIA) with participation from existing investors through primary and secondary issue of shares at USD 1.2-1.3 Billion valuation.The secondary purchase of shares from existing investors constitutes 70% of the total funding.Additionally, the company has announced its largest-ever employee stock ownership plan (ESOP) liquidity program worth INR 50 crore (USD 6 million). It has granted ESOPs to 320 employees, and 85 of them have liquidated ESOPs worth INR 75 crore (USD 9 million) over three buyback programs.
Between Aug 2013 and Oct 2023, Purplle had raised over USD 411 M from MEMG Family Office, ADIA, PremjiInvest, Blume Ventures, Kedaara Capital, Paramark Ventures, Peak XV Partners, Blume Ventures, Goldman Sachs, Verlinvest, JSW Ventures, Spring Marketing Capital, IvyCap Ventures, Dream Incubator, NB Ventures, AET Fund and Mountain Pine Capital.For FY23, Purplle had reported INR 474.96 Cr in Operating Income and INR 229.75 Cr in Net loss.
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