As Purplle raises $45 million, early investor IvyCap clocks 22X gains

Purplle, an online beauty store, has raised $45 million (about Rs 326 crore) from Sequoia Capital India and existing investors Verlinvest, Blume Ventures, and JSW Ventures, the company said in a release. The round saw the company’s value rise to Rs 2,200 crore, sources said. It also saw Ivy Cap Ventures, an early backer of Purplle, partially exit with 22X gains, the release said. IvyCap bought a 30% stake in Purplle for Rs 15 crore in 2015, when the company was valued at Rs 50 crore...
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