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Purplle secures funding from IvyCap Ventures & Blume Ventures

Mumbai-based online beauty products shop Purplle.com has raised an undisclosed amount in Series A funding from IvyCap Ventures with participation from existing investor Blume Ventures. 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 plans to use the investments raised to grow its fulfillment capacity and its marketing efforts. Purplle co-founder & CEO Manish Taneja told Times of India that they will also be using these funds to make their International foray as well as build a marketplace for beauty & grooming product and services.

Purplle Salon

The company also intends to movie beyond e-commerce onto salon listings and discovery. It currently offers salon and spa listings for Mumbai, Delhi, Gurgaon, Hyderabad, Pune, Chennai and Bangalore, with plans to expand it to Ahmedabad, Chandigarh, Noida and Kolkata soon. It claims to have tie-ups with over 7,000 salons, spas, hair care and skin care chains in Mumbai, with plans to expand to 50,000 chains across 30 cities.

Launched in January 2012 by Taneja & Rahul Dash, Purplle offers personal care and beauty products like hair products, cosmetics, perfumes, skin products and body products among others. It also offers men’s personal care products, baby care products and electronic products like beauty groomers, massager, hair accessories and trimmers among others. The company currently offers products from various brands like Davidoff, Hugo Boss, Elizabeth Arden, Victoria’s Secret, Kerastase, L’Oreal and Maybelline among others.

Competition:

Other players in this category include Nykaa which had raised Rs 20 crore in July last year, Mumbai-based Vellvette.com (now FabBag) which had raised $500k in February 2013 and Bangalore-based Beautykafe, other than regular e-commerce ventures like Flipkart, Snapdeal, Myntra, Jabong and Homeshop18, which also offer cosmetics.

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