Spring Marketing Capital announces exit from Purplle after 3.5 years of partnership

It remains a shareholder and looks forward to Purplle's journey towards an IPO.

Spring Marketing Capital (SMC), a brand-first investment firm, has exited its investment in Purplle, a beauty and skincare e-commerce platform. Raja Ganapathy, founder of Spring Marketing Capital, announced the exit in a LinkedIn post.

Spring Marketing Capital invested in Purplle.com in December 2020, collaborating closely with the founders and team as strategic partners. SMC's team played a pivotal role in shaping the brand proposition, developing a new brand identity, and guiding the platform’s evolution, including its owned brands.

In his post, Ganapathy expressed his pride in the Spring team’s efforts over the past 3.5 years, stating, "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 also emphasised that Spring will remain shareholders and is eager to witness Purplle's journey towards an IPO and beyond.

Spring Marketing Capital was established in 2019 with a mission to invest in the most promising consumer startups in India and help them grow into desired brands through the power of brand marketing. The firm was founded by three marketing veterans with diverse expertise—Raja Ganapathy (former CMO at Sequoia), Vineet Gupta (former CEO at DDB and founder of 22Feet Tribal), and Arun Iyer (CCO & Chairman of Lowe Lintas)—who focus on early-stage, consumer-facing startups.

Founded in 2011, Purplle is supported by investors such as Blume Ventures, IvyCap Ventures, and JSW Ventures.