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Exclusive: Deepika Padukone’s D2C startup 82°E set to raise new capital

EntrackrEntrackr · 1y ago
Exclusive: Deepika Padukone’s D2C startup 82°E set to raise new capital
Medial

Direct to consumer personal care startup 82°E is set to mop up Rs 50 crore or $6 million in the extension of its seed round from new and existing investors. This will be the first round of investment for the Deepika Padukone-led company this year. The board at 82°E passed a special resolution to issue 50,00,000 series seed 2 CCPS at an issue price of Rs 100 each to raise 50 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. KA Enterprises LLP, an investment entity owned by Deepika Padukone and her family, is slated to participate in the round, while other investors may join them. According to the filings, the new funds will be allocated for expansion, growth, and general corporate purposes. The company last raised $7.5 million in its seed round led by DSG Partner and IDEO Ventures along with Padukone’s family office in December 2022. According to startup data intelligence platform TheKredible, Padukone along with her family office holds 59.6% followed by actor Ranveer Singh who commands 5.32% of the company. Launched in 2022 by Padukone and Jihar Shah, 82°E is a skin and body care brand for both men and women that offers a wide range of products including cleansers, face masks, moisturizers, sunscreen, and more. 82°E displayed significant growth during the first nine months of FY24. Its revenue from operations stood at Rs 22.82 crore between March 2023 and December 2023. For context, the company collected Rs 11 crore in its operating income in FY23. The firm remained in the red with Rs 25.1 crore at EBITDA level in the same period (March 2023 to Dec 2023). 82°E competes with many brands including Plum, mCaffeine, Wow Skin Science and public company Mamaearth.

Atomberg revenue grows 31% to Rs 848 Cr in FY24

EntrackrEntrackr · 9m ago
Atomberg revenue grows 31% to Rs 848 Cr in FY24
Medial

Consumer appliances brand Atomberg reported over 31% growth in its operating revenue in the fiscal year ending March 2024. At the same time, the Mumbai-based firm also reduced losses by 31.7% during this period. Atomberg’s revenue from operations rose 31.5% to Rs 848 crore in FY24 from Rs 645 crore in the previous fiscal year, according to its press release. This growth indicates strong performance in its core product segment: fans, which contributed Rs 841 crore to its coffers. Atomberg’s product portfolio includes energy-efficient brushless direct current (BLDC) and smart fans, mixer grinders, and smart locks. It claims to have sold more than 8 million units to date. The non-fan segment, however, earned only Rs 7 crore during FY24. The company expects significant growth in these areas in FY25, driven by positive sales trends in its kitchen and lock products. The company also reported an improvement in its operating results, with operational EBITDA moving from a loss of Rs 49 crore to Rs 22 crore in FY24, narrowing the EBITDA margin from -8% to -3%. Backed by A91 Ventures, Atomberg improved its financials, reducing losses by 31.7% in the last fiscal year. According to the company, losses fell from Rs 202 crore in FY23 to Rs 138 crore in FY24. The difference between operational EBITDA and reported losses was attributed to non-operational expenses, including ESOP grants, management bonuses, and costs related to fundraising activities. In the e-commerce market, Atomberg retained its position as a key seller on major online marketplaces. The company also made substantial investments in research and development (R&D) during the year to introduce new products, including fans and mixers. Founded by Manoj Meena and Sibabrata Das in 2012, Atomberg has raised $130 million to date, including an $86 million Series C funding round led by Temasek and Steadview Capital in May last year.

Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact

EntrackrEntrackr · 1y ago
Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact
Medial

Biomass and biofuel marketplace BiofuelCircle raised Rs 45 crore ($5.3 million) in funding led by Spectrum Impact with the participation of a few angels as well as the promoters of the company. The board at BiofuelCircle has passed a resolution to issue 3,27,551 compulsory convertible preference shares to raise Rs 45 crore (approximately $5.3 million), its regulatory filing accessed from RoC shows. The company has received Rs 24.3 crore till now while the rest of the sum is yet to be rolled out by the investors. Before this round, it has raised $2 million from Spectrum Capital, Better Capital and others. As per the Kredible’s estimates, the company has been valued at around Rs 282 crore or $34 million pos-allotment. Launched in 2020, BiofuelCircle focuses on building an organized and reliable supply chain for biomass and biofuels. The platform identifies farmers who need to sell their agricultural residue and then it connects them with the storage facilities nearby. The platform further connects these storage companies with factories or refineries where the biomass would be sold. Additionally, these refineries are connected to industrial consumers who purchase the biomass. It also offers buyers to subscribe to the BiofuelCircle marketplace through either prepaid or postpaid subscription plans which also provides access to value-added services. BiofuelCircle directly competes with Buyofuel, which is backed by Inflection Point Venture and Venture Catalysts. The Pune-based company recorded a 5x growth in its operating revenue to Rs 11 crore during the fiscal year ended 2023. However, its losses surged by 80% to Rs 6.8 crore during the same period. The company is yet to file its annual statement for FY24. Lead investor Spectrum has invested in several growth stage startups such as Atomberg, Falcon Labs, Dozee, Miko, Log9, Turno, Blue Sky Analytics, Kreedo and others.

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