Online Store Purplle.com Secures Funding From IvyCap

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Mumbai based, Beauty and skincare e-retailer, Purplle.com has raised an undisclosed amount of funding from IvyCap Ventures. The startup had also closed a Series A funding in 2013 by non-VC investors. IvyCap is in the midst of closing its new INR 900-crore fund and has deployed INR 250 crore from its first fund across six startups that are mostly in the tech space.

Purplle’s co-founder & CEO Manish Taneja told TOI that the new funds will be used to create a TripAdvisor-like marketplace for the discovery of beauty and grooming products and services. The startup is also looking to scale up its services business and tap the international markets.

Purplle.com was founded by Manish Taneja and Rahul Dash in 2011, it has made partnership with more than 7,000 salons, spas, skin care and hair care chains across Mumbai and plans to take that number up to 50,000 across 30 cities by the end of this year. Purplle offers beauty products for both men and women including fragrances, skincare, electronics, makeup, etc.

VioletBag, MedPlusBeauty, Fabbag etc are the few websites that are dealing with the beauty and skincare products. Various e-commerce website like Flipkart, Snapdeal, Amazon, Jabong, Myntra, Infibeam also offers beauty and e-commerce products. Because of the competition in this space, certain niche players in this segments either shut down or changed their business model. Urban Touch was one of the first startups in this category, which was acquired by Fashion and You for USD 30 million in 2012, was shut down a year later. LadyBlush was another company that changed its model and became an apparel store.

Similar Read:  Fundingwire - Wholesalebox Secures $2M in Pre-Series A & 8 More Funding Announcements

Image Source: Purplle.com

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  • Salon in Karol Bagh

    very nice article!!!

  • blog post

    Ha ha, Founders of purplle are not even able to give salary to there employees, Very pathetic culture.How can people like IvyCap fund them, guys please check backround, have a look on there twitter and Facebook pages.

    Don’t rely on there background of IIT and IIM.

    • Disha Kini

      Hi, normally no one from Team Purplle would care to respond & to such comments (hence no response for you’re comment since the past 12 days) because you have pasted the same response on multiple websites it is important to burst the bubble for you! I am associated with Purplle & happily working for more than 2 years and there are people working with the company since the beginning. We are no fools to work with a company if our salaries are not credited. Unfortunately for you are salaries are not just credited but we get it ON TIME as well! You have got the culture at Purplle all wrong, we are not just employees but a strong & bonded joint family!
      Regards,
      Team Purplle :)

      • Ankur

        bold. :)