Purplle is a D2C startup that offers beauty and cosmetic products. The startup secured $120 million in  its funding round led by Abu Dhabi Investment Authority. This round saw the participation of the firm’s  existing and new investors. The funding round includes both primary and secondary shares. After this  round, the company is evaluated to be around $1.2 billion to $1.3 billion. 

The company turned into a unicorn in 2022 after securing $33 million in its series E funding round led  by South Korea’s Paramark Ventures at a valuation of $1.1 billion. Purplle announced its plans for the  largest employee stock ownership plan liquidity program of $6 million. The company has approved  ESOPs of 320 employees to date including 85 employees with liquidated ESOPs of $9 million over three  buyback programs. The startup plans to use these fresh proceeds to scale operations, enhance its  platform for a better user experience, advance its technologies, and expand its network. 

The company reported a four-time increase in its GMV over the last three years. Purplle expects to  grow its online platform while scaling its physical stores and improving profitability. This marks the  second transaction for purplle in one year. The platform also provides a customized and secure  collection of skincare and body care products to its customers globally. The company rivals other online  beauty product brands including Nykaa. The company aims to offer a seamless and fun online shopping  experience. 

The data intelligence platform, The Kredible mentioned that the company has an operating revenue of  around Rs 475 crore while a loss stood at Rs 230 crore in FY23. This DC beauty products marketplace  Purplle startup offers beauty and makeup products. The company offers a variety of solutions and  products including face masks, lipstick cleansers, foundation, moisturizers, and more. The company  claims to deliver clinically tested and expert-formulated beauty products.  

Conclusion: 

Purplle is a D2C startup offering an online platform for beauty products that secured 120 million USD  in its funding round led by the Abu Dhabi Investment Authority and others. The round includes both  primary and secondary shares. The valuation of the company after this round is estimated to be around  1.2 billion to 1.3 billion USD. The company turned into a unicorn in 2022 after securing 33 million USD  in its series E funding round led by South Korea’s Paramark Ventures at a valuation of 1.1 billion. The  startup intends to use these fresh proceeds to scale operations, enhance its platform for a better user  experience, advance its technologies, and expand its network. Purplle announced its plans for the  largest employee stock ownership plan liquidity program worth $6 million. Purplle expects to grow its  online platform while scaling its physical stores and improving profitability. This marks the second  transaction for purplle in one year. This beauty brand claims to deliver clinically tested and expert formulated beauty products. The startup plans to grow its online platform and increase its offline  stores this year.