Purplle raises $38 million in Series D Funding Round

Purplle has raised $38 million in its series D funding round led by Sequoia Capital along with the participation of Blume Ventures and Sangeeta Pendruka, the chief executive officer (CEO) of Aditya Birla Fashion and Retail Limited (ABFRL)-owned Pantaloons.

The regulatory filing of the company approves the allotment of 5608 Series D1 preference shares at an issue price of Rs. 4,59,041 per share. The company is valued at  $728 million.

The e-commerce platform was founded by Manish Taneja and Rahul Dash in 2011. It offers beauty products, appliances and cosmetics. It is planning to use the funds to enhance its technology stack and incubate as well as acquire more smaller startups.