Deepika Padukone's 82°E Raises $7.5 Million Seed Round The company will utilise the funds raised to grow its team, scale R&D and launch new products
By Teena Jose
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Global Indian Icon Deepika Padukone's self-care brand 82°E announced that it had raised $7.5 million Seed funding in early 2022. DSG Consumer Partners and IDEO Ventures along with other prolific angel investors participated in the round. 82°E will utilise the funds raised to grow its team, scale R&D and launch new products.
"Jigar and I envisioned this brand as an extension of my personal as well as professional journey. We set out to launch products which are high-quality, high-performing and an authentic reflection of my beliefs and practices. In this endeavour, we aim to make the practice of self-care simple, joyful and effective for all. With our launch category of skincare products, we have rigorously sourced, carefully crafted and clinically tested our products to achieve lasting results. I am honoured to have investors of global repute join us in our vision to establish 82°E as a modern self-care brand born in India for the world," said Deepika Padukone, co-Founder, 82°E.
In November 2022, the brand launched with skincare as its inaugural category and introduced "Ashwagandha Bounce" moisturiser and "Patchouli Glow" sunscreen drops, as the debut products. In the first month of launch, 82°E has witnessed phenomenal response and has already served consumers over 30 countries globally and has built capabilities to ship to over 200 countries. The brand is well on its way to introduce more products in the skincare category over the next few months, in line with its thought-through product drop strategy, claimed by the company in a statement.
"Over the last decade, we've worked with consumer founders to build world-class enduring brands, and with 82°E we are excited to partner with this passionate, goal driven founder duo. We are highly impressed by Deepika and Jigar's uncompromising dedication, and commitment to building 82°E brick by brick," said Deepak I. Shahdadpuri, founder and managing director, DSG Consumer Partners.
Founded by Deepika Padukone and Jigar Shah, 82°E is on a mission to make the practice of self-care simple, joyful and effective through high-quality and high-performance products.
