Friday, 13 December 2019

PURPLLE, a Mumbai Angels (MA) Network Company, raises $30mn, led by Goldman Sachs

PURPLLE,  a Mumbai Angels (MA) Network Company, raises $30mn, led by Goldman Sachs
December 14, 2019:
Purplle, a Mumbai Angels Network portfolio company,  has raised a Series C round from global investment bank Goldman Sachs along with  few existing investors.
Purplle, founded in 2012 by Rahul Dash and Manish Taneja, is an online marketplace for users to shop for beauty, cosmetics, skin and hair care products. Purplle also has its own private label called StayQuirky.
Manish Taneja, co-founder at Purplle said, "Mumbai Angels investors were the initial investors to demonstrate  confidence in our venture. With continued mentorship of our investors, we diversified into unique brands. This latest round capital will be used to strengthen the supply chain and invest in digital content”
Gita Nayyar, Mumbai Angels Investor, said, “We invested at a very  early stage with Purplle. It was great to be involved as a board observer and engaged investor, guiding them in the early days and watching the brand grow. I am delighted to see their continued efforts as a potential unicorn
Nandini Mansinghka, Co-Promoter and CEO of Mumbai Angels Network said,  “Purplle is a star in our diversified portfolio. We as a network are very bullish on the India consumer story and are happy that our early investment in Purplle has proven our hypothesis right. We wish Purplle the very best in its journey ahead.” 
About Mumbai Angels Network:

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 400+ members strong, across 8 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune and Jaipur). It has a 135+ strong portfolio with 30+ exits and has invested 150+ crores.

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