Deepika Padukone’s 82°E plans to raise Rs 50 crore in new funding round

Bollywood celebrity Deepika Padukone’s personal care business 82°E plans to raise Rs 50 crore. The decision has been approved by the business’ shareholders and the capital will be used to expand and grow the startup business’ operations.

The business plans to raise the funds from a mix of new and existing investors, according to a regulatory filing made at the Registrar of Companies, accessed by ET Tech. The funding round will include an investment by Ka Enterprises, the venture firm owned by 82°E co-founder Padukone which has also invested in businesses including Mokobara, Supertails, and Epigamia among others. In December 2022, 82°E raised $7.5 million in a funding round which was led by Ideo Ventures and DSG Consumer Partners along with Padukone’s Ka Enterprises.
 
The business has recently expanded its product selection for men and launched a range of moisturisers and cleansers in sleek, black packaging, the brand announced on Facebook. Other recent product launches include a Pomegranate Lip Sheen for women featuring SPF protection.
 
Deepika Padukone launched 82°E with entrepreneur Jigar Shah in 2021. Based in Mumbai, the brand caters to both men and women and is one of a number of beauty brands launched by Bollywood celebrities in recent years including Kay Beauty by Katrina Kaif, Anomaly by Priyanka Chopra, and Nush by Anushka Sharma among others.