Nykaa rival Purplle raises $33M to become India’s latest unicorn
100 Purplle has secured $33 million in a new funding round. With this, the online cosmetics retailer became the latest unicorn in India. Mumbai-based online cosmetics retailer, Purplle, secured $1.1 billion in funding, becoming the second billion-dollar firm to be founded in India this week, despite negative investor attitude toward startups. The startup acquired $33 million in Series E funding from South Korea's Paramark Ventures, as well as current investors Blume Ventures, Kedaara, and billionaire Azim Premji's Premji Invest. Purplle, which is backed by Goldman Sachs Group Inc., is a major competitor to Nykaa, whose parent company, FSN E-Commerce Ventures Ltd., had one of India's most successful market debuts right before global investment circumstances soured.Nykaa is presently worth $8.7 billion. India currently boasts over a hundred unicorns. Physicswallah, an edtech business, raised $100 million last week from investors including WestBridge Ca...