Deepika Padukone-led startup 82°E is a personal care D2C startup that is planning to raise around $6 million in its extended seed funding round. This was the first round of investment for the startup and  had the participation of new and existing investors. The company plans to use these fresh proceeds to  enhance its platform, expand its network and product development. 

The board members at 82°E approved a special resolution to allot 50,00,000 series seed 2 CCPS at an  issue price of Rs 100 each to raise $6 million as primary capital. KA Enterprises LLP is reported to  participate in the round and new investors may join them. This funding amount will be used to expand,  meet market needs, grow, and in general corporate purposes. Previously the startup also raised $7.5  million in its seed funding round which was led by IDEO Ventures and DSG Partners along with  Deepika’s family office in 2022.  

This D2C personal care 82°E startup offers skin and body care products for both men and women. The  company offers a wide range of solutions and products including face masks, cleansers, moisturizers, and more. The company claims to offer clinically tested and expert-formulated skincare products. The  startup aims to develop an Indian self-care brand that is Indian in its ethos and global in outlook. The  82°E focuses on a multi-channel mode of marketing. The startup claims to provide a personalized and  secure collection of skincare and body care products to its clients and customers worldwide.  

The company has shown growth in its first nine months of FY24. The firm collected Rs 11 crore in its  operating income during FY23 and reached operational revenue of Rs 22.82 crore from March to  December 2023. However, it remained in red with Rs 25.2 crore EBITDA in the same duration. The  brand competes with other personal and skincare D2C brands including Mcaffeine, WOW Skin Science,  Plum, and Mamaearth. 

Conclusion: 

82°E, a skin and personal care brand led by Deepika Padukone will be raising $6 million in its extended seed funding. The firm is planning to secure funding for a new round from its new and existing  investors. This D2C Skincare startup is planning to use the fund to expand in the global market, enhance  its platform, and expand its network and product development. The startup faces competition with  known brands including Plum, WOW Skin Science, Plum, and Mamaearth. The brand provides various  e-commerce platforms including a website, offline stores, and an app to connect with its customers. 

Previously the startup also raised $7.5 million in its seed funding round which was led by IDEO Ventures  and DSG Partners along with Deepika’s family office in 2022. The 82°E focuses on a multi-channel mode  of marketing. The startup claims to provide a personalized and secure collection of skincare and body care products to its clients and customers worldwide. The firm collected Rs 11 crore in its operating  income during FY23 and reached operational revenue of Rs 22.82 crore from March to December 2023.