Purplle, an IvyCap Ventures-backed online marketplace for beauty products and spa and salon services, is closing a Series-B round of around $6 million from JSW Ventures, existing investors and another investor who's likely to join in.
The company will use some part of the capital to set up a warehouse in Bengaluru to serve the Southern market which makes up 15 per cent of its annual GMV of Rs 150 crore. Also, the firm will grow its beauty services business in the spa and salon category which is currently available in 12 cities.
"Offline we wouldn't do a store model but will create an experience using Virtual Reality to help buyers experience different products. These are the plans for the next 8 to 12 months," Manish Taneja, cofounder of Purplle.com told ET.
Purplle.com had raised an undisclosed amount in Series A funding from IvyCap Ventures with participation from existing investor Blume Ventures in January 2015. The company had earlier raised funds from Blume Ventures, Chennal Angels and Mumbai Angels in August 2013. It had also raised seed investment from unnamed angel investors in March 2012.
Purplle.com was founded by Manish Taneja and Rahul Dash in 2011, the Mumbai-based startup competes with the likes of Nykaa, another beauty eCommerce portal owned by investment banker-turned-entrepreneur Falguni Nayar, which raised $9.5 million in October, is also looking to raise Rs.90-100 crore to support its private label business and expand into offline stores.
The company will use some part of the capital to set up a warehouse in Bengaluru to serve the Southern market which makes up 15 per cent of its annual GMV of Rs 150 crore. Also, the firm will grow its beauty services business in the spa and salon category which is currently available in 12 cities.
"Offline we wouldn't do a store model but will create an experience using Virtual Reality to help buyers experience different products. These are the plans for the next 8 to 12 months," Manish Taneja, cofounder of Purplle.com told ET.
Purplle.com had raised an undisclosed amount in Series A funding from IvyCap Ventures with participation from existing investor Blume Ventures in January 2015. The company had earlier raised funds from Blume Ventures, Chennal Angels and Mumbai Angels in August 2013. It had also raised seed investment from unnamed angel investors in March 2012.
Purplle.com was founded by Manish Taneja and Rahul Dash in 2011, the Mumbai-based startup competes with the likes of Nykaa, another beauty eCommerce portal owned by investment banker-turned-entrepreneur Falguni Nayar, which raised $9.5 million in October, is also looking to raise Rs.90-100 crore to support its private label business and expand into offline stores.
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