Online beauty platform Purplle.com became the 17th unicorn of 2022, following a $33-million raise from Premji Invest, Blume Ventures and Kedaara. The fresh investment takes the company’s total funding to over $215 million, and its valuation to $1.1 billion.
Despite concerns about a funding shortage for startups, investors remain excited about select ventures. Purplle is the second company in just this week to turn a unicorn.
Manish Taneja, co-founder & CEO of Purplle. com, said the fund infusion is an opportunity “to further our mission of building the beauty industry in India with technological investments, scaling of our private brands, and industry first innovations”.