Deepika Padukone’s skincare startup 82°E, pronounced Eighty Two East, said Wednesday it has raised $7.5 million in seed funding, as the Bollywood star becomes the latest high-profile celebrity to enter the startup world.
DSG Consumer Partners and IDEO Ventures are among those who backed 82°E, said the startup, which began offering self-care products such as moisturisers and sunscreen drops to consumers in over 30 countries last month.
82°E says its products are formulated in-house by R&D experts and feature “time-tested Indian ingredients.”
“Jigar [Shah, the other co-founder] and I envisioned this brand as an extension of my personal as well as professional journey,” said Padukone in a statement.
“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.”
(More to follow)