Kedaara Capital invests $75 million in Purplle
01 November 2021, Mumbai:
The new money will be used to expand the firm as well as make investments in other beauty tech companies. According to co-founders Manish Taneja and Suyash Katyayani, the money will be utilised to improve the company's technological skills and hire personnel.
It will also be used to launch new goods and brands, as well as to invest in fresh acquisitions of firms that provide distinctive beauty services, according to the company. "Kedaara's consumer and technological experience will help us in our next phase of growth," Taneja added.
According to Sunish Sharma, co-chief executive officer and managing partner at Kedaara, and Anant Gupta, managing director at Kedaara, the firm has exhibited market growth and established a platform based on the idea of democratising beauty and personal care across India.
"They provide a unique value proposition and a great client experience, and they will have strong tailwinds for a long time." "We're ecstatic about our new investment in consumer technology," they remarked.
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