MUMBAI : Beauty and grooming e-commerce platform, Purplle, has raised an undisclosed sum from JSW Ventures.
The company’s existing investors Blume Ventures and IvyCap Ventures also participated in the Series B round.
The company plans to invest the sum on technology, supply chain and user experience. Purplle.com’s co- founder Manish Taneja said, “We have raised enough funds for the next 12 – 18 months.” When quizzed about the next round of funding, Taneja added, “We cannot predict this right now. If we find suitable investors and if we can agree on terms, then yes or else, no.”
Mumbai-based company, which spends 4 – 5% of their GMV (gross merchandise volume) on marketing, will continue to spend the same percentage.
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He also revealed that the company has turned profitable at EBITDA level in west and north. Taneja added, “We plan to turn EBITDA positive, at the company level by December 2016.” 2011-founded start-up offers products related to skin care, make-up, hair care, body care and beauty appliances. It also provides details of salons and spas in 12 cities including Delhi, Mumbai and Gurgaon.
Last year in January, the company has raised an undisclosed amount in its Series A round from IvyCap Ventures.
During its seed funding, it had secured capital from Blume Ventures, Mumbai Angels and Chennai Angels.
