Spring Marketing Capital exits investment in Purplle

New Delhi: Spring Marketing Capital (SMC) has exited its investment in Purplle, a beauty and skincare e-commerce platform. Raja Ganapathy, SMC's founder, announced the exit on LinkedIn.

SMC invested in Purplle in December 2020, working closely with the founders to shape the brand, develop a new identity, and guide its evolution. Ganapathy praised the team's efforts over the past 3.5 years in building the platform and launching new initiatives. Despite the exit, SMC revealed that it will remain shareholders and look forward to Purplle's journey toward an IPO.

The company said in a blog post, “We’re proud of the teams over at Spring and Purplle that worked closely over the last 3.5 years to help build the platform brand, launch multiple new initiatives, a brand new identity and foray into offline. We are happy to continue to be shareholders and are excited to see what lies ahead in their path to IPO and beyond.”

Founded in 2019 by marketing veterans Raja Ganapathy, Vineet Gupta, and Arun Iyer, SMC focuses on helping consumer startups grow through brand marketing. Purplle, established in 2011, is backed by investors including Blume Ventures, IvyCap Ventures, and JSW Ventures.