Indian online beauty retailer Purplle has successfully raised $120 million in a funding round led by Abu Dhabi Investment Authority (ADIA), taking its valuation to $1.3 billion, according to reports. This investment round has cemented Purplle’s position as a leading player in the beauty segment, supported by other major investors, including Kedaara, Premji Invest, Sequoia Capital India, JSW Ventures, Goldman Sachs, Verlinvest, Blume Ventures, and Paramark Ventures. The funds are earmarked primarily for advancing technology initiatives and expanding offline retail stores. This latest move follows ADIA’s recent strategic investments in various sectors within India, notably acquiring a minority stake in Paras Defense and Space Technologies, investing in Reliance Industries Limited’s warehousing assets, and exploring investments in audio storytelling platform Pocket FM.

E-commerce, Private Equity and Venture Capital, Beauty and Personal Care,India, United Arab Emirates

https://www.zawya.com/wealth/wealth-management/indias-purplle-raises-120mln-in-funding-round-led-by-uaes-adia-report-y4tsuyf5