- Indian beauty unicorn Purplle raised $100M from Abu Dhabi’s ADIA at $1.2-$1.3B valuation.
- New investors Creaegis joined, Premji Invest increased stake in mixed funding round.
- India’s booming beauty segment attracts investor interest as startups scale.
Makeup millions
Mumbai-based beauty retailer Purplle has reportedly raised $100 million led by Abu Dhabi’s sovereign wealth fund ADIA.
This funding would boost Purplle’s valuation to $1.2-$1.3 billion, a 15% increase from last year, sources revealed.
New investors join the party
Along with ADIA, private equity firm Creaegis is expected as a new investor in this round. Existing backer Premji Invest also plans to increase its stake. The round combined primary and secondary investments.
Purplle’s massive round comes amid India’s flourishing beauty segment. Recently, D2C beauty brand Foxtale raised $18 million to expand its online presence and product range.
With investors doubling down, India’s beauty startups are primping for serious growth.
To read the original article: https://www.techinasia.com/purplle-raises-100m-boost-abu-dhabi-wealth-fund-report
