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Goldman-Backed Beauty Startup Becomes India’s Newest Unicorn

  • Purplle snags $33 million at a $1.1 billion valuation
  • The financing coincides with dwindling enthusiasm for startups
The Purplle website

The Purplle website

Updated on

Online cosmetics retailer Purplle raised capital at a $1.1 billion valuation, becoming the second billion-dollar company to be created in India this week despite souring investor sentiment on startups.

The Mumbai-based firm raised $33 million of Series E financing from South Korea’s Paramark Ventures as well as existing backers Blume Ventures, Kedaara and billionaire Azim Premji’s Premji Invest, the company said in a statement.