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Mumbai, March 13, 2025: Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has successfully raised approximately $40 million in Series E funding, marking a major milestone in its ambitious expansion plans. The funding round was led by SageOne Flagship Growth OE Fund, Alchemy Long Term Ventures Fund, Bajaj Holdings & Investment, and Minerva Ventures Fund, along with secondary investments from a diverse group of prominent investors, including celebrities, designers, and family offices.

Purple Style Labs raises $8 million in series-D funding round

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With this latest round of funding, PSL aims to strengthen its omnichannel presence, expand internationally, and establish itself as India’s largest luxury fashion powerhouse.

A Powerful Roster of Investors Backs PSL

This funding round saw participation from several well-known investors, including 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, Ritesh Kamani, and many others.

Notably, PSL’s existing investors also doubled down on their commitment, including Singularity Growth Opportunities Fund I, Neelesh Bhatnagar, Pidilite Family Office, Signet Family Office, Rupa Family Office, Kiran Gems Family Office, Utpal Sheth, Rahul Garg, Rahul Kayan, Utsav Mitra, Mukesh Sawlani, Vineet Gautam, Atul Gupta, among others.

With this strong backing, PSL is well-positioned to drive its next phase of growth.

Scaling Luxury Fashion: PSL’s Meteoric Rise

Abhishek Agarwal, Founder of Purple Style Labs, highlighted the company’s phenomenal growth, stating:

“After acquiring Pernia’s Pop-Up Shop in 2018, we have scaled it over 100x in under seven years, transforming it into one of India’s largest luxury fashion destinations. This $40 million funding will accelerate our expansion, both in India and globally, while enhancing our omnichannel capabilities to make Indian fashion more accessible worldwide.”

Since acquiring Pernia’s Pop-Up Shop, PSL has opened 15+ experience centres globally, featuring top-tier Indian designers specializing in womenswear, menswear, jewellery, and accessories. These stores are spread across major Indian cities like Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, Ahmedabad, Chennai, Surat, and Indore, with an international flagship store in London’s Mayfair.

The Road Ahead: New Stores and Global Expansion

In 2025, PSL is set to open India’s largest multi-designer luxury retail store at the iconic Ismail Building in Fort, Mumbai. This move aligns with its strategy to dominate the high-end luxury retail market in India.

Beyond domestic expansion, PSL has ambitious plans to establish a strong global presence in key fashion capitals like New York, Los Angeles, Dubai, Mumbai, and Delhi. Additionally, PSL is set to expand into Tier-II Indian cities, tapping into an emerging market of luxury shoppers.

“We are committed to bridging Indian craftsmanship with global luxury retail, ensuring Indian designers gain international recognition,” Abhishek added.

Strong Financial Growth & Industry Recognition

PSL’s impressive trajectory is reflected in its financial performance. The company has achieved 100%+ CAGR growth between FY21 and FY24, crossing ₹500 crore in revenue in FY 2023-24 on a consolidated basis.

Additionally, Pernia’s Pop-Up Shop was featured in the Financial Times’ prestigious list of 500 high-growth companies in the Asia-Pacific region in 2023, further cementing its reputation as a leader in the Indian luxury fashion space.

Pernia’s Pop-Up Shop: The Luxury Fashion Powerhouse

India’s most renowned designers, including as Tarun Tahiliani, Falguni Shane Peacock, Amit Aggarwal, Gaurav Gupta, Seema Gujral, Abhinav Mishra, and Shyamal & Bhumika, are housed at Pernia’s Pop-Up Shop, which has become the premier destination for bridal and occasion wear.

The company runs more than 15 experience centers throughout the world, including in well-known areas including Mumbai’s Juhu, Kala Ghoda, and Bandra; Delhi’s Mehrauli and DLF Emporio; Bengaluru’s UB City; Hyderabad’s Banjara Hills; Kolkata’s Elgin Road; and London’s Mayfair.

Looking ahead, Pernia’s Pop-Up Shop will continue its aggressive expansion, adding new locations and enhancing the luxury shopping experience for Indian fashion enthusiasts worldwide.

Purple Style Labs: Building India’s Luxury Fashion Empire

Purple Style Labs (PSL) is on a mission to build India’s largest luxury fashion house. Since its acquisition of Pernia’s Pop-Up Shop in 2018, it has significantly expanded across various verticals, retail formats, and global locations.

Along the way, PSL has secured funding from marquee investors such as Binny Bansal, Akash Bhanshali, Mukul Agarwal, Girish Kulkarni, Navroz Udwadia, Harminder Sahni, Astarc Ventures, ValueQuest SCALE Fund, Yuj Ventures/Sid Yog, Hira Group Family Office, Madhuri Dixit, and Masaba Gupta, among others.

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With this fresh infusion of $40 million, PSL is set to redefine luxury fashion in India and beyond, solidifying its position as a powerhouse in the global fashion landscape.

Conclusion

Purple Style Labs’ Series E funding of $40 million underscores its rapid growth, industry dominance, and ambitious expansion plans. As it strengthens its omnichannel presence, expands internationally, and opens India’s largest multi-designer luxury store, PSL is well on its way to becoming a global leader in luxury fashion.

The future of Indian luxury fashion has never looked brighter, and PSL is leading the charge.

Millie, a California-based maternity clinic, founded by Anu Sharma, announced the raise of a $12 million Series A by investors including RH Capital, TMV, and Melinda French Gates’ Pivotal Ventures.

Sharma was inspired to launch the company after the birth of her daughter in 2019. She faced pregnancy complications and, as the child of a doctor, was able to identify some symptoms that were missed by medical staff. The experience led her to build a maternity clinic — the one she would have wanted while she was giving birth.

The result is Millie, which launched in 2022. It offers maternity and gynecology care, as well as postpartum coaching, mental health care, and nutrition counseling. It works with all major insurance companies and there is in-person and virtual support, with a tech platform that provides patient monitoring tools. Others in this space include Quilted Health and Oula.

“What makes Millie unique is our hybrid model which combines in-person care at our clinics with virtual visits, remote monitoring, and a proprietary app,” Sharma told TechCrunch. “We do this with a capital efficient model, increasingly powered by AI-enabled workflows, in collaboration with payors and health system partners.”

Millie’s cap table consists of all female-led firms. The company, which has raised nearly $19 million to date, will use the fresh capital to expand its physical footprint across California and advance its technology services. It also wants to expand the network of healthcare partners with whom it works.