The D2C personal care startup is set to raise INR 50 Cr (around $6 Mn) as a part of its extended seed funding round Its board approved allotment of 50 Lakh Seed 2 Compulsorily Convertible Preference Shares (CCPS) at an issue price of INR 100 in a meeting held on March 20 The round will see Deepika Padukone and her father Prakash Padukone's investment entity, Ka Enterprises, increase its stake in the startup in one or more tranches D2C personal care startup 82°E is set to raise INR 50 Cr (around $6 Mn) as a part of its extended seed funding round. The startup’s board has approved allotment of 50 Lakh Seed 2 Compulsorily Convertible Preference Shares (CCPS) at an issue price of INR 100 in a meeting held on March 20, its RoC (Registrar of Companies) filing showed. The round will see Deepika Padukone and her father Prakash Padukone’s investment entity, Ka Enterprises, increase its stake in the startup in one or more tranches.
Besides, existing and new investors are also slated to participate in the round which is expected to be completed by June 20. 82°E aims to use the fresh capital for business requirements of the company. The round will see the company’s promoters, Padukone and cofounder Jigar Shah’s stake increase to 49.
03% in the company. This marks the second fund infusion for the brand after its initial seed funding round of $7.5 Mn in December 2022, which saw DSG Consumer Partners and IDEO Ventures, along with multiple ultra-high net worth individuals (UHNIs) an.
