Deepika Padukone’s personal care startup, 82°E, is looking to raise Rs 50 crore ($6 million) in an extended seed funding round. The investment will fuel the company’s growth and expansion plans.
- Funding Details
- Investment is expected from new and existing investors.
- Significant contribution from KA Enterprises, owned by Padukone’s family.
- The money will go towards projects for growth and expansion as well as other essential company activities.
- Investors and Stakeholders:
- KA Enterprises, led by Deepika Padukone and her family, will be a major contributor.
- Previous investors include DSG Partner, IDEO Ventures, and Padukone’s family office.
- Padukone’s family currently holds a 59.6% stake in the company.
- Other stakeholders include Ranveer Singh (5.32%) and Bhushan Kumar of T-Series (6%).
- 82°E Offerings and Performance
- Launched in 2022, 82°E offers skincare and body care products for men and women.
- The brand witnessed significant growth in the first nine months of FY24.
- Achieved Rs 22.82 crore in revenue from operations (March-December 2023).
- This is a sharp increase from Rs 11 crore in FY23.
- Despite the growth, the company reported a loss of Rs 25.1 crore at the EBITDA level during the same period.
- 82°E competes with brands like Plum, mCaffeine, Wow Skin Science, and Mamaearth.
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