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Direct-to-consumer personal care startup 82°E is set to mop up 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.
A special resolution was approved by the board at 82°E to issue 50,000 series seed 2 CCPS at an issue price of Rs 100 apiece in order to raise Rs 50 crore.
Read also - Arthan Finance Raises Rs 50 Cr Funding Led by Incofin and Dell Foundation
Deepika Padukone and her family own an investment company called KA Enterprises LLP, and they are expected to participate in the round. Additional investors may join them. The new money will be used for general corporate objectives, growth, and expansion, per the documents.
The company last raised $7.5 million in December 2022 during its seed round, which was headed by Padukone's family office, IDEO Ventures, and DSG Partner.
For both men and women, 82°E is a skin and body care company that sells a variety of goods such as cleansers, face masks, moisturizers, sunscreen, and more.
82°E showed a notable increase in the first nine months of FY24. Its operating income for the period of March 2023 to December 2023 was Rs 22.82 crore.
About 82°E
Founded in 2021 by Deepika Padukone, 82°E is a modern Indian self-care brand that is on a mission to make the practice of self-care simple, joyful, and effective part of your everyday.
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