Purple Style Labs raises $14 million in series C funding round

By

Maverick Martins

Published
Apr 14, 2023

Luxury fashion house Purple Style Labs, the parent of Pernia’s Pop-Up Shop has raised $14 Mn (Rs 114.5 crore) in a series C funding round led by Value Quest, Scale Fund, Singularity Growth Opportunities Fund I, Val Pro, Masaba Gupta, among others.

Existing investors such as Astarc Ventures, Param Capital partner Mukul Agrawal, and Xander Group founder Sid Yog also participated in the funding round.

The company will utilise the funds to scale its business and strengthen its offline presence by opening stores in the domestic, international markets.

Purple Style Labs plans to open stores in New York, San Francisco, Los Angeles, Dubai, and Singapore over the next two years.

Commenting on the funding, Abhishek Agarwal founder of Purple Style Labs in a statement said, “In the coming years, we hope to achieve new heights with more key international locations, broadening our presence and taking Indian fashion and design to the next level.”

Founded by Abhishek Agarwal in 2015, Purple Style Labs retails high-end designer brands under Pernia’s Pop-Up Shop brand. It also incubates young designer brands and helps them with sales, marketing, and technical support.