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<ul><li>Purplle has raised ₹257.43 crore ($38 million) in a Series D round.</li><li>The company had closed a $140 million round in November 2021.</li><li>It plans to open its first retail outlet this year and acquire more startups.</li></ul>Cosmetics and personal care products ecommerce platform Purplle, which competes with Falguni Nayar-led <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>, has raised ₹257.43 crore ($38 million). The Series D round has been led by Sequoia Capital. Blume Ventures and <keyword id="12971640" type="General" weightage="20" keywordseo="sangeeta-pendruka" source="Orion">Sangeeta Pendruka</keyword>, the chief executive officer (CEO) of <keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> Limited (<keyword id="3360476" type="General" weightage="20" keywordseo="abfrl" source="Orion">ABFRL</keyword>)-owned Pantaloons, have participated in the Series D round. According to the regulatory filings, Purplle has approved the allotment of 5608 Series D1 preference shares at an issue price of ₹4,59,041 per share. Sequoia has invested nearly ₹238 crore in this round. The development was first <a href="https://entrackr.com/2022/01/exclusive-purplle-raises-fresh-funds-at-over-725-mn-valuation/">reported </a>by Entrackr. The company is now reportedly valued at $728 million. Business Insider has reached out to Purplle seeking confirmation of its valuation. Purplle — Founded by Manish Taneja and Rahul Dash in 2011 — is an ecommerce platform that offers beauty products, appliances and cosmetics. The company had closed a <a href="https://www.business-standard.com/article/companies/beauty-platform-purplle-com-raises-75-mn-from-kedaara-sequoia-and-blume-121102901076_1.html">$140 million</a> in October 2021, <a href="https://www.moneycontrol.com/news/business/startup/exclusive-purplle-eyes-500-million-valuation-amid-nykaa-ipo-7459501.html">reportedly</a> at a valuation of $500 million. It planned to use that capital to enhance its technology stack and incubating as well as acquiring more smaller startups. The company’s founder and CEO Taneja had <a href="https://www.businessinsider.in/business/startups/news/purplle-is-planning-to-set-up-its-own-network-of-retail-stores-as-nykaa/articleshow/87649025.cms">previously told</a> Business Insider that it plans to take a omnichannel approach by setting up retail stores by March this year. “I think offline is a huge market and we will love to be a player in it as well... We would like to have a significantly solid play in the omnichannel or offline model,” Taneja added. He believes that the offline stores would help the company get more brand recognition, increase customer’s experience as well as trust. Nykaa — which was listed on the stock exchange last November — also relies on an omnichannel approach to gather more customer interest and further boost its reputation. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/stock-market/news/hcl-technologies-shares-down-7-as-employees-are-leaving-the-firm-at-a-faster-rate-than-ever-before/articleshow/88944681.cms">The street is dumping HCL Tech shares because its employees are leaving at a faster rate than ever before</a> <a href="https://www.businessinsider.in/budget/news/even-after-the-lic-ipo-indian-government-may-be-well-short-of-its-divestment-target/articleshow/88938799.cms">Even after the LIC IPO, Indian government may be well short of its divestment target ⁠— for a third year in a row</a>

Nykaa's rival Purplle raises $38 million from Pantaloon’s CEO, Sequoia

<ul><li><keyword id="1830414" type="General" weightage="20" keywordseo="purplle" source="Orion">Purplle</keyword> is now valued at over a billion dollars after its $33 million fundraise.</li><li>The unicorn round saw participation from Paramark Ventures, Premji Invest and others.</li><li>The company plans to use this capital for acquisition and fund its inorganic growth plans.</li></ul>Cosmetics ecommerce company Purplle — which competes with Falguni Nayar’s <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> — is now valued at over a billion dollars after its $33 million fundraise. With this, Purplle has become the 102nd unicorn in India. The unicorn round saw participation from Paramark Ventures, along with existing investors like Premji Invest, Blume Ventures and Kedaara Capital. It was valued at $1.1 billion. The company plans to use this capital for acquisition and fund its inorganic growth plans. “The infusion is an opportunity to further our mission of building the beauty industry in India with technological investments, scaling of our private brands, and industry-first innovations,” Manish Taneja, co-founder and CEO of Purplle, said. Its competitor Nykaa currently had a market cap of ₹68,377 crore ($8.7 million), as pn June 9. Purplle — Founded by Manish Taneja and Rahul Dash in 2011 — is an ecommerce platform that offers beauty products, appliances and cosmetics. The company had closed a <a href="https://www.business-standard.com/article/companies/beauty-platform-purplle-com-raises-75-mn-from-kedaara-sequoia-and-blume-121102901076_1.html">$140 million</a> in October 2021, <a href="https://www.moneycontrol.com/news/business/startup/exclusive-purplle-eyes-500-million-valuation-amid-nykaa-ipo-7459501.html">reportedly</a> at a valuation of $500 million. It planned to use that capital to enhance its technology stack and incubating as well as acquiring more smaller startups. In January, the company also raised<a href="https://www.businessinsider.in/business/startups/news/nykaas-rival-purplle-raises-38-million-from-pantaloons-ceo-sequoia/articleshow/88953104.cms"> $38 million </a>led by Sequoia Capital. Blume Ventures and Sangeeta Pendruka, the chief executive officer (CEO) of Aditya Birla Fashion and Retail Limited (ABFRL)-owned Pantaloons, have participated in the Series D round. Purplle’s latest funding round was announced only two days after <a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms">PhysicsWallah became the first profitable edtech</a> to enter the unicorn club. The company has raised $100 million in a Series A round from Westbridge and GSV Ventures, at a valuation of $1.1 billion. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms">Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans</a> <a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms">India's youngest ecommerce giant received more than 60 orders every second during its one-day sale</a>

Nykaa competitor Purplle is the latest unicorn after a $33 million fundraise

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Nykaa's rival Purplle raises $38 million from Pantaloon’s CEO, Sequoia

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Nykaa competitor Purplle is the latest unicorn after a $33 million fundraise

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