Online cosmetics retailer Purplle raised capital at a $1.1 billion valuation
It raised $33 million in latest Series E funding along with existing investors Premji Invest, Blume Ventures, and Kedaara
Backed by Goldman Sachs Group Inc., Purplle is a prominent rival of Nykaa
Purplle will use the new capital to step up investments in technology, develop its private labels and strengthen its product
Purplle was set up in 2012 by Taneja, Rahul Dash and Suyash Katyayani, three engineers from the Indian Institute of Technology
