Beauty Retailer Purpelle Raises $2.56 Million Funding
The beauty products and services marketplace Purpelle has reportedly raised fresh funds amounting to Rs 17.5 crores ($2.56 million) from a group of investors.
According to the sources, the funding was secured in a number of tranches and was led by an unidentified London-based investment fund. The companies that participated in the funding round were Patrick Chong Fook Seng (founder of Luxasia Group), a Singapore-headquartered omni-channel retailer of beauty products, and existing investor JSW Ventures (venture capital arm of the JSW Group).
The valuation of the company after the funding round has reached roughly around Rs 240-245 crore ($35-36 million). Purpelle has raised funds basically for the expansion of its business operations and to improve the customer base.
Purpelle is a...