Goldman-Backed Beauty Start-Up Becomes India’s Newest Unicorn

Online cosmetics retailer Purplle raised capital at a $1.1 billion valuation, becoming the second billion-dollar company to be created in India this week despite souring investor sentiment on start-ups.

The Mumbai-based firm raised $33 million of Series E financing from South Korea’s Paramark Ventures as well as existing backers Blume Ventures, Kedaara and billionaire Azim Premji’s Premji Invest, the company said in a statement.

Backed by…