Deal Talk: Purplle, Kinetic Green look for fresh capital
TechCircle brings you a round-up of technology investments and M&A deals reported from across newsrooms.
Purplle to raise $42 mn
Mumbai-based Manash Lifestyle, which operates beauty products and services marketplace Purplle, is in talks to raise up to $42.2 million in a Series C funding round, led by New York-based investment bank Goldman Sachs, Mint reported, citing sources.
Purplle’s existing investors Blume Ventures, IvyCap Ventures and JSW Ventures are also expected to participate in the round, the report said.
Goldman Sachs is expected to invest from its growth and venture capital investment arm Goldman Sachs Investment Partners (GSIP).
Purplle was founded in 2012 by Manish Taneja and Rahul Dash and introduced its private label recently along with aggregating well-known brands. It also provides makeup content and guided videos from bloggers.
Kinetic Green to raise $40 mn
Pune-based Kinetic Green Energy and Power Solutions is in talks to raise up to $40 million in private equity funding by December 2019, Mint reported, quoting the company's founder and chief executive Sulajja Firodia Motwani.
Kinetic Green is planning to use the capital for fuelling growth for the next three to five years, expand its product portfolio, develop new products, enter niche segments and ramp up capacity at its Ahmednagar plant, the report said.
Kinetic Green is an electric vehicle manufacturer founded by Motwani. The company claims to have supplied 2,500 vehicles and looking to close another lot of 5,000 units by February 2020.