Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has raised US $ 40 million in a Series E fundraising round headed by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund.
Along with current investors like Singularity Growth Opportunities Fund I, Neelesh Bhatnagar, and Pidilite Family Office, the round also included participation from S Four Capital, Sopariwala Exports, Kemfin Family Office, Cordelia Family Trust, Weikfield Family Office, Salil Taneja Family Office, PKM Capital (Mehta Family Office), Satyen Kanoria, and Ritesh Kamani.
After purchasing Pernia’s Pop-Up Shop in 2018, it has grown more than 100 times in less than seven years, becoming one of the biggest luxury fashion destinations in India. A significant milestone in Purple Style Labs’ quest to further transform India’s premium fashion scene has been reached with the raising of almost US $ 40 million in Series-E funding, says Abhishek Agarwal, founder of Purple Style Labs, adding that this investment will support aggressive goals for both local and international expansion while enhancing omnichannel capabilities to improve the global shopping experience for Indian fashion.
PSL has increased its footprint with more than 15 experience centres since purchasing Pernia’s Pop-Up Shop, and in FY 2023–2024, the company reported a consolidated revenue of more than US $ 57.5 million (Rs 500 crore).
