According to TechCrunch, the Series D round was financed by Sequoia Capital India and existing investors Verlinvest, Blume Ventures, and JSW Ventures. The new round values the Indian startup – which has raised USD 95 million to date –at about USD 300 million, up from USD 150 million in its 2019 Series C round.
The new funding gave partial exit to IvyCap Ventures, which had invested about USD 2 million in Purplle in 2015. Besides, the company reported that it sells nearly 50,000 products from over 1,000 brands, having 7 million monthly active users.
Overall, the growth of Purplle shows the increased potential of ecommerce in India, where users are beginning to purchase fashion and beauty products online, TechCrunch stated.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now