Indian beauty retailer Purplle has closed its series F funding round after bagging $180 million, according to a press release. 

The startup had raised about $120 million in July, and now the company has grabbed an additional $60 million from both existing and new investors. 

The series F round was led by a subsidiary of the Abu Dhabi Investment Authority, while existing investors, including Premji Invest and Blume Ventures also increased their commitments in the firm. 

The press statement revealed that new investors including Rishabh Mariwala's Sharrp Ventures also participated in the funding round. 

Some of the other investors in Purplle include Goldman Sachs, Nexus, Kedaara Capital, Sequoia Capita, Artha India Ventures, IvyCap Ventures, Brand Capital, and JSW Ventures. 

Funding to Leverage Technology

According to Purplle, the financial backing will help the company to leverage technology to enhance how consumers discover and purchase beauty products and services. 

The company will also use the funding to expand its revenue to a broader audience.

"As we continue to innovate and leverage our technology and data capabilities to deliver the best omnichannel experience to our customers, this latest round of investments reaffirms the importance of our vision," said Manish Taneja, co-founder and CEO of Purplle. 

Mariwala said that Purplle will be able to tailor to the needs of Indian consumers through this current funding. 

"Through the application of data-driven insights and the expansion into underserved markets, we seek to support the company in delivering personalised and accessible beauty solutions tailored to the diverse needs of consumers across India," said Mariwala. 

Purplle: All You Need to Know

Established in 2012, Purplle's online platform reaches over 10 million consumers monthly, while it also has 20,000 offline touch points. 

Apart from being a retailer of cosmetic products, the firm also have its own brands such as Faces Canada, Good Vibes, Alps Goodness, Carmesi, and DermDoc. 

Purplle had become a unicorn in 2022 after it raised $33 million in a Series E round at a valuation of $1.1 billion from investors including South Korea's Paramark Ventures.