Deepika Padukone’s D2C Personal Care Brand 82°E to Raise Rs 50 Crore

Bollywood actor Deepika Padukone's direct-to-consumer (D2C) personal care startup, 82°E, is set to raise Rs 50 crore (approximately $6 million) from both new and existing investors. According to a regulatory filing with the Registrar of Companies, the company’s shareholders have approved a resolution to secure the capital infusion.

Padukone's venture firm, Ka Enterprises, known for backing startups like Epigamia, BluSmart, Mokobara, and Supertails, is among the investors participating in this funding round. The fresh capital will be directed towards the expansion and growth of 82°E.

Founded in 2021 by Deepika Padukone and Jigar Shah, the Mumbai-based brand offers a diverse range of skincare products catering to both men and women. The company previously raised $7.5 million in a funding round led by DSG Consumer Partners and Ideo Ventures, with Ka Enterprises also participating, in December 2022.

According to Tracxn data, 82°E reported revenue from operations of Rs 10.4 crore in FY23, marking its first full fiscal year. The company is poised for growth in India’s booming beauty and personal care market, which is projected to grow at a compounded annual rate of 10% between 2022 and 2027, reaching $30 billion, as per a study by Redseer Strategy Consultants and Peak XV Partners.

India is experiencing a surge in celebrity-led brands, particularly in the beauty and fashion sectors. Alongside Deepika Padukone, several Bollywood A-listers such as Katrina Kaif, Priyanka Chopra, Alia Bhatt, and Anushka Sharma have launched their own brands, including Kay Beauty, Anomaly, Ed-a-mamma, and Nush, respectively. This trend underscores the growing influence of celebrity endorsements in driving consumer preferences in the beauty industry.

The funding news, first reported by Entrackr, highlights the continuing appeal and potential of celebrity-led ventures in India’s competitive market landscape.