Deepika Padukone's self-care brand 82°E eyes Rs 50 crore in funding

Bollywood actress Deepika Padukone's personal care startup, 82°E, is seeking to raise Rs 50 crore (approximately $6 million) in a new funding round. This news comes from a report by Entrackr, which cited data from the Registrar of Companies.

The report states that 82°E's board approved the issuance of shares to raise the targeted amount. This fresh infusion of capital will likely be used for expansion, growth, and other corporate objectives.

Launched in 2022 by Padukone and Jigar Shah, 82°E offers a range of self-care products for men and women. These include cleansers, sunscreens, moisturizers, and more, inspired by Deepika's own long-standing beauty routine.

The company previously secured $7.5 million in its seed funding round back in December 2022. Investors included DSG Partner, IDEO Ventures, and Padukone's family office. The latest round might also see participation from KA Enterprises LLP, an investment entity co-owned by Padukone and her family.

82°E operates in a competitive market with established players like Mamaearth, mCaffeine, and Plum. While the brand initially focused on a direct-to-consumer (D2C) approach, the founders have hinted at exploring expansion beyond this model in the future.