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The young Bollywood star Deepika Padukone has recently introduced her skincare brand 82°E which is ready to scale up its future progress by acquiring additional Rs. 50 crore ($6 million).This is the first capital raiser for 82°E for this year 2024, after closing the initial seed round in December 2022 that raised $7. 5 million from DSG Consumer partners, IDEO ventures, plus a contribution from Padukone’s family office.As per Entrackr, a new funding round are going to be majorly led by KA Enterprises LLP – Both Padukone and her kin own this company.
Accompanying this trend, even more investors are also planned to participate. These funds will be used for acquisitions, new sub-projects, and other corporate purposes. Born in the same year, Deepika Padukone and Jihar Shah established 82°E as a cosmetics company focused on males and females’ derma care products. Its product range consists of cleansers, masks, moisturizers, and sunscreens for customers with different skin types. Suffice to say that the brand has achieved significant growth and records Rs. 22.of revenue from operations between the period March and December of 2023 Financial year being considered, doubling the operating income of INR 11 crore of the FY 23.
Nonetheless, this colossal revenue increment still places 82°E in the negative region as it incurs an EBITDA loss of Rs. 25.1 crore during the said period The fertilizer consumption also increased during the same period and stood at 10 million tonnes in the same year while the corresponding figure for the year 1995-96 was 9.In the entertainment circle, Deepika Padukone has two big projects in the pipeline currently starring in “Kalki 2898 AD” which is set to be released on June 28, 2024 and also in ‘’Singham Again” which will be released on Diwali 2024.
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