Deepika Padukone led 82°E eyes on to collect $6 million in extended seed round
Bollywood Deepika Padukone led D2C wellness and personal care brand 82°E is all set to raise a new pool of capital worth Rs. 50 crore or $6 million in the extension of its seed round from new and existing investors. This will be the first round of investment for the Deepika Padukone-led company this year.
According to its regulatory filing accessed from the Registrar of Companies, the managerial board of at 82°E passed a special resolution to issue 50,00,000 series seed 2 CCPS at an issue price of Rs. 100 each to raise Rs.50 crore.
Deepika and her family started an investment firm called KA Enterprises LLP, which joined the funding round, the other existing investors will also join.
The filing of the company says that, they will utilize the newly extracted fund for expansion, growth, and general corporate purposes.
In the previous seed funding round, the company has collected $7.5 million, led by DSG Partner and IDEO Ventures along with Padukone’s family office in December 2022.According to the startup data intelligence platform TheKredible, Padukone along with her family office holds 59.6% followed by actor Ranveer Singh who commands 5.32% of the company.
The personal care startup brand 82°E was started by Deepika Padukone and Jigar Shah. The product offered by the brand focusing on both men and women. The wide range of products include cleansers, face masks, moisturizers, sunscreen, and more.
The D2C skincare brand has recorded a substantial growth during the first nine months of FY24. The company’s revenue from the operation stood at Rs.22.82 crore between March 2023 and December 2023. The company collected Rs.11 crore in its operating income in FY23. The firm remained in the red with Rs 25.1 crore at EBITDA level in the same period (March 2023 to Dec 2023).
The company’s notable competitors in the market are Plum, mCaffeine, Wow Skin Science and public company Mamaearth.
.jpg "Team Startupcity")
According to its regulatory filing accessed from the Registrar of Companies, the managerial board of at 82°E passed a special resolution to issue 50,00,000 series seed 2 CCPS at an issue price of Rs. 100 each to raise Rs.50 crore.
Deepika and her family started an investment firm called KA Enterprises LLP, which joined the funding round, the other existing investors will also join.
The filing of the company says that, they will utilize the newly extracted fund for expansion, growth, and general corporate purposes.
In the previous seed funding round, the company has collected $7.5 million, led by DSG Partner and IDEO Ventures along with Padukone’s family office in December 2022.According to the startup data intelligence platform TheKredible, Padukone along with her family office holds 59.6% followed by actor Ranveer Singh who commands 5.32% of the company.
The personal care startup brand 82°E was started by Deepika Padukone and Jigar Shah. The product offered by the brand focusing on both men and women. The wide range of products include cleansers, face masks, moisturizers, sunscreen, and more.
The D2C skincare brand has recorded a substantial growth during the first nine months of FY24. The company’s revenue from the operation stood at Rs.22.82 crore between March 2023 and December 2023. The company collected Rs.11 crore in its operating income in FY23. The firm remained in the red with Rs 25.1 crore at EBITDA level in the same period (March 2023 to Dec 2023).
The company’s notable competitors in the market are Plum, mCaffeine, Wow Skin Science and public company Mamaearth.
