Indian beauty marketplace Purplle raises $45m from Sequoia, others

Photo: Pixabay

Online beauty marketplace, Purplle, on Monday said that it has raised $45 million in funding from new investor Sequoia Capital India, with existing investors Verlinvest, Blume Ventures, and JSW Ventures also participating as a part of the round.

As a part of the transaction, Purplle’s early backer Ivy Cap Ventures has seen a partial exit, making a 22X return of 330 crore against 15 crore of initial investment, the company said. IvyCap Ventures had invested in Purplle, as a part of its Series A funding back in 2015.

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