New Delhi
The investment will be used by the firm to expand into new products and enter new cities, the company said in a press statement. “This investment is an extension of the recently closed Series C round of funding led by Verlinvest, a Belgium-based consumer-focused investment firm, Danone Manifesto Ventures, the venture investment arm of one of the world’s leading food and beverage companies, and DSG Consumer Partners, an Asia focused VC fund,” the statement said.
Launched in June 2015, Epigamia is currently available in 20 stock keeping units (SKUs) under Greek yogurt, artisanal curd, snack pack, mishti doi and smoothies. The flavoured yogurt brand retails in about 10,000 touch points and aims to scale up to 50,000 outlets in a few years.
Rohan Mirchandani, Co-Founder, Epigamia said, “We are super excited to welcome Deepika into the Epigamia family as a partner and a shareholder. Deepika’s massive reach and appeal with the health-conscious youth of India will help the brand scale to another level.” As part of the deal, Padukone will own equity in Drum Foods.
The company, however, declined to share the details of her investment. Commenting on this new association with the brand, Padukone said, “I am thrilled to join the Epigamia family. Not only do I love the products but also connect very strongly with the brand philosophy.”
“The team has big plans for expansion and I am excited to be closely involved as we roll out new products and enter new cities.”
The investment by Padukone is latest in the series of celebrities funding start-ups and ventures across sectors. Last week, Bollywood actor and producer Suniel Shetty invested in Pune-based fitness and nutrition start-up Squats. Amitabh Bachchan has invested in local search service platform Just Dial Ltd while Priyanka Chopra has funded networking and dating app Bumble, run by Bumble Trading Inc.
Reports suggest that as many as 32 celebrities have invested in 67 startups and other companies.
Drums Food International, the parent company of Epigamia Greek yogurt, had raised Rs 90 crore in a series-B round of funding in July 2017. The round was led by Belgium-based PE group Verlinvest and DSG Consumer Partners.
Other investors in the company include Bollywood actor Kunal Kapoor and Apurva Salarpuria from the Salarpuria Group.
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