Purplle Raises $6 Million From JSW Ventures
Purplle, One of the leading salon spa and online store for beauty and cosmetics has managed to secure series-B funding of around $6 million from JSW Ventures alongside existing investors and also with active participation by other players.
Manish Taneja led company which was launched in the year 2012, had earlier secured an undisclosed funding in the year 2015.
Purplle is one stop destination for all your beauty and cosmetic related products and is often compared to Flipkart and Snapdeal for beauty products.
The company is based out of Mumbai and houses beauty products from top brands in beauty and skin care segments. You can also find several deals and offers posted regularly on their website.
As per reports, the funding is likely to be used for expanding the warehouse facility in Bengaluru. The idea is to focus on the south Indian market which brings in 15 percent of the annual GMV of Rs 150 crores, the company reported.
The IvyCap Ventures-backed company, which has its presence in 12 cities across India including Bengaluru, Chennai ,Gurgaon to name a few, will continue to focus on the spa and salon category, which is growing at a phenomenal rate.