‘Purplle’ raises first round funding
Nline beauty and personal care venture Purplle has raised its first round of funding from angel networks Mumbai Angelsand The Chennai Angels as well as early-stage investment fund Blume Ventures. The company, founded in early 2012 by Manish Taneja and Rahul Dash, offers personal care products ranging from make-up to electronics from over 400 global brands.
The ecommerce sector, which has been buffeted by issues ranging from regulatory constraints to high costs, has seen few early-stage companies raising venture funding this year. Older ventures like Flipkart, Snapdeal, Myntra, Shopclues and Zovi have managed to raise funds. In July Flipkart raised around Rs 1,200 crore, the single-largest round of funding by an Indian ecommerce company so far.