Total amount raised
$78.4 Million
Latest funding date
03/01/2025
Location
Purple Style Labs has successfully raised funds through 10 rounds, with the latest being a Series E round. The company is backed by 58 investors, including notable names like Satyen Kanoria and Singularity AMC.
As an omnichannel luxury fashion house, Purple Style Labs curates and scales designer brands, offering a blend of online and offline shopping experiences. Keep reading to explore the intricacies of Purple Style Labs' fundraising journey and the investors backing this innovative platform.
What Is Purple Style Labs?
Purple Style Labs, founded in 2015, is an omnichannel luxury fashion house based in Mumbai, Maharashtra, India. The company operates in the fashion, lifestyle, and retail industries, curating and scaling designer brands for both online and offline markets.
With a workforce of 501-1000 employees, Purple Style Labs aims to expand the reach of Indian brands to global luxury markets. The company offers a blend of curated selections in luxury fashion, serving both national and international customers.
How Much Funding Has Purple Style Labs Raised?
- Seed Round
- Amount Raised: INR 30,000,000
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish a market presence.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling initial operations and expand the team.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Series Unknown
- Amount Raised: INR 126,000,000
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational scaling.
- Series B
- Amount Raised: USD 10,000,000
- Date: June 2022
- Lead Investors: Akash Bhanshali
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product lines.
- Series Unknown
- Amount Raised: INR 100,000,000
- Date: September 2022
- Lead Investors: Klub
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and market reach.
- Series C
- Amount Raised: INR 1,145,000,000
- Date: April 2023
- Lead Investors: Masaba Gupta, Valpro Capital, ValueQuest Investment Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support aggressive expansion and enhance omnichannel capabilities.
- Series D
- Amount Raised: INR 666,000,000
- Date: November 2023
- Lead Investors: Sanket Parekh
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and prepare for future growth.
- Series E
- Amount Raised: USD 40,000,000
- Date: March 2025
- Lead Investors: Alchemy Capital Management, Bajaj Holdings and Investment, Minerva Ventures, SageOne
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel aggressive expansion plans and strengthen omnichannel capabilities.
Total Amount Raised: USD 53,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Alchemy Capital Management
- Details: Alchemy Capital Management is a prominent investment firm known for its long-term growth strategies. They participated in the Series E funding round for Purple Style Labs.
- Investment Focus Areas: Long-term growth investments, high-growth opportunities, diversified sectors.
- Notable Investments: Not publicly disclosed.
- Bajaj Holdings and Investment
- Details: Bajaj Holdings and Investment is a major investment company with a diversified portfolio. They were a key investor in the Series E funding round for Purple Style Labs.
- Investment Focus Areas: Diversified investments, high-growth sectors, long-term value creation.
- Notable Investments: Not publicly disclosed.
- Minerva Ventures
- Details: Minerva Ventures is a venture capital firm that focuses on growth-stage investments. They participated in the Series E funding round for Purple Style Labs.
- Investment Focus Areas: Venture capital, growth-stage companies, high-potential sectors.
- Notable Investments: Not publicly disclosed.
- SageOne
- Details: SageOne is an investment firm known for its focus on high-growth opportunities. They led the Series E funding round for Purple Style Labs.
- Investment Focus Areas: High-growth opportunities, diversified sectors, long-term investments.
- Notable Investments: Not publicly disclosed.
- Sanket Parekh
- Details: Sanket Parekh is an individual investor with a focus on high-growth companies. He participated in the Series D funding round for Purple Style Labs.
- Investment Focus Areas: High-growth sectors, technology, consumer goods.
- Notable Investments: Not publicly disclosed.
What's Next for Purple Style Labs?
With a robust growth trajectory, Purple Style Labs is poised to capitalize on significant opportunities in the luxury fashion market. The company plans to expand both domestically and internationally, targeting key fashion capitals like New York, Los Angeles, and Dubai. This expansion, coupled with the enhancement of their omnichannel capabilities, positions them to capture a larger market share and drive substantial revenue growth.
Future fundraising opportunities are on the horizon, with the company gearing up for an initial public offering (IPO) in 2026. This move is expected to attract significant investment, further fueling their aggressive expansion plans. The involvement of high-profile investors and celebrities will likely continue to bolster their visibility and financial backing.
However, challenges such as maintaining high growth rates, managing operational costs, and navigating international markets could pose hurdles. Ensuring a seamless omnichannel shopping experience and preparing for a successful IPO will require strategic planning and execution. Despite these challenges, Purple Style Labs' strategic initiatives and market positioning suggest a promising future ahead.
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