Akshata Sharma
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Deepika Padukone's D2C personal care startup, 82°E, is looking to raise Rs 50 crore from both new and existing investors.
According to an Entrackr report, Padukone's venture firm, Ka Enterprises, will participate in the round.
Ka Enterprises is also an investor in startups, including BluSmart, Mokobara, Supertails, and Epigam82°E offerings and competitors
Launched in 2022 by Deepika Padukone and Jigar Shah, 82°E offers a variety of skin and body care products for both men and women.
The product line includes cleansers, toners, exfoliators, face masks, moisturizers, and sunscreens.
The report further said that the Deepika Padukone-founded brand demonstrated significant growth in the first nine months of FY24, achieving Rs 22.82 crore in revenue from operations between March and December 2023.
This is a notable increase from its Rs 11 crore operating income in FY23. Despite this growth, the company reported a Rs 25.1 crore loss at the EBITDA level during the same period.
It competes with Plum, mCaffeine, Wow Skin Science, and the publicly listed Mamaearth.
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