Funding round
Purplle Growth
Reported as "Growth Equity"
Purplle, which works in beauty and cosmetic product retail in Mumbai, raised $120M in a Growth round announced on 1 Jul 2024, led by Abu Dhabi Investment Authority, at a $1.25B post-money valuation. 10 firms took part. It is Purplle's seventh venture round on record; the one before was a Series E in Jun 2022.
$120M
Amount raised
$1.25B
Post-money valuation
$1.13B pre-money
10
Investors
1 lead
1.1x
Step-up from the Series E
$1.10B in Jun 2022
9.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Purplle at $1.25B after the new money, 1.1 times the $1.10B of its Series E (Jun 2022). The $120M bought investors about 9.6% of the company. It came 25 months after Purplle's Series E. It is 27% of the $450M Purplle has raised in the venture rounds on record. Purplle raised again 3 months later: a Series F round of $180M in Oct 2024, at $1.20B post-money.
Purplle's funding rounds
Purplle has 8 venture rounds on record. This one is highlighted.
- Seed 1 Aug 2013 $604K
- Series A 7 Jan 2015 $5.0M
- Series B 11 Jul 2016, led by JSW Ventures $6.0M
- Series C 13 Dec 2019, led by Goldman Sachs $30M
- Series D 29 Oct 2021, led by Kedaara $75M$630M post-money
- Series E 10 Jun 2022, led by Paramark Ventures $33M$1.10B post-money
- Growth this round 1 Jul 2024, led by Abu Dhabi Investment Authority $120M$1.25B post-money
- Series F 14 Oct 2024, led by Abu Dhabi Investment Authority $180M$1.20B post-money
Investors
Who put money in
Abu Dhabi Investment Authority led the round with 9 other firms.
Lead investor
- Abu Dhabi Investment Authority backs 19 venture-backed companies new investor
Also in the round
- KKR backs 104 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- Premji Invest backs 50 venture-backed companies new investor
- Sequoia Capital India new investor
- backs 9 venture-backed companies new investor
- Goldman Sachs backs 218 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- backs 117 venture-backed companies new investor
- Paramark Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Cosmetics Stores, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cosmetics Stores | 1 Oct 2024 | $240M | not disclosed | not named |
| Cosmetics Stores | 18 Jan 2024 | $27M | not disclosed | Eurazeo |
| team.blue Tech Companies | 10 Jul 2024 | $5.20B | not disclosed | CPP Investments |
| Flagship Pioneering Biotechnology | 10 Jul 2024 | $3.60B | not disclosed | not named |
| Tech Companies | 9 Jul 2024 | $350M | $5.10B | not named |
| Investment Consultants & Financial Advisors | 1 Jul 2024 | $285M | not disclosed | not named |
| Human Interest Retirement Planning | 17 Jul 2024 | $242M | $1.33B | Baillie Gifford and Marshall Wace |
| Renewable energy companies | 10 Jul 2024 | $206M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Purplle raise in its Growth round?
Purplle raised $120M in its Growth round, announced in Jul 2024.
Who led Purplle's Growth round?
Abu Dhabi Investment Authority led it, with KKR, Kedaara, Premji Invest, Sequoia Capital India and JSW Ventures and 4 more.
What was Purplle's valuation at the Growth round?
$1.25B post-money ($1.13B pre-money).
Did Purplle raise again after this round?
Yes: a Series F round in Oct 2024 of $180M at $1.20B post-money.