Spring Marketing Capital, a brand-first investment firm, is exiting its investment in the beauty and skincare e-commerce platform Purplle. Raja Ganapathy, founder of Spring Marketing Capital, announced the exit via a LinkedIn post.
Spring Marketing Capital invested in Purplle.com in December 2020, working closely with the founders and team as strategic partners. SMC’s team played a lead role in crafting the brand proposition, re-working a new brand identity, and guiding the evolution of the platform-including its owned brands.
He says in his post, “Feel very proud of the Spring team that over the last ~3.5 years has worked closely with the Purplle founders and team to help build the platform brand as well as partner with them for all new initiatives including brand launches, Purplle brand identity creation, and their successful move into offline.” He further added that Spring will remain shareholders and are looking forward to seeing Purplle’s journey toward an IPO and beyond.
Spring Marketing Capital was established in 2019 with the objective of investing in highly promising consumer startups in India and growing them into desired brands through the power of brand marketing. Founded by three veterans in marketing, namely Raja Ganapathy, ex-CMO at Sequoia; Vineet Gupta, ex-CEO at DDB, and founder of 22Feet Tribal; and Arun Iyer, CCO & Chairman of Lowe Lintas, it focuses on consumer-facing early-stage startups.
Set up in 2011, Purplle counts among its investors Blume Ventures, IvyCap Ventures, and JSW Ventures.
