Bollywood star Deepika Padukone’s skincare startup attracts VC backing • robotechcompany.com
Deepika Padukone’s skincare startup 82°E, pronounced Eighty Two East, stated Wednesday it has raised $7.5 million in seed funding, because the Bollywood star makes additional push into the startup world.
DSG Shopper Companions and IDEO Ventures are amongst those that backed 82°E, stated the startup, which started providing self-care merchandise reminiscent of moisturisers and sunscreen drops to shoppers in over 30 international locations final month.
82°E says its merchandise are formulated in-house by R&D specialists and have “time-tested Indian elements.”
“Jigar [Shah, the other co-founder] and I envisioned this model as an extension of my private in addition to skilled journey,” stated Padukone in a press release.
“We got down to launch merchandise that are high-quality, high-performing and an genuine reflection of my beliefs and practices. On this endeavour, we intention to make the observe of self-care easy, joyful and efficient for all. With our launch class of skincare merchandise, we’ve got rigorously sourced, rigorously crafted and clinically examined our merchandise to attain lasting outcomes. I’m honoured to have traders of worldwide reputation be part of us in our imaginative and prescient to ascertain 82°E as a contemporary self-care model born in India for the world.”
The tech-savvy star, who’s among the many highest paid actresses in India, has emerged as a prolific investor in recent times. In 2017, she launched KA Enterprises, a fully-owned holding firm, by way of which she has backed a number of startups together with unicorn on-line magnificence retailer Purplle, satellite tv for pc, aerospace manufacturing agency Bellatrix, yoghurt agency Epigamia and pet retailer Supertails.
Bollywood stars and cricketers together with Shahid Kapoor, Mahendra Singh Dhoni, Virat Kohli, Anushka Sharma, Hardik Pandya, and Priyanka Chopra have remodeled a dozen investments in recent times, generally in a sweat fairness association the place they endorse the model and gather a part of the charge as shares.