Deepika Padukone-backed Epigmia now valued at $68.5M
DRUMS Food International, the parent company of flavoured and greek yoghurt, that is backed by Indian actor Deepika Padukone, is now valued $68.52 million. According to the filing with Registrar of Companies accessed by YourStory, the actor has recently pumped in Rs 1.05 crore, as a part of its Series C round. DRUMS allocated 5,833 equity shares of face value Rs 100, on preferential basis, at a premium of Rs 1,705.50.
The investment has been made through KA Enterprises LLP, a corporate entity that is fully owned by the actor. Earlier in May 2019, Epigamia announced that it was raising an undisclosed amount from Deepika. As a part of this investment, Deepika is a partner and strategic advisor to the FMCG company. It is a part of the multi-crore strategic partnership where Deepika will be endorsing the brand, as its brand ambassador.
In an earlier conversation with YourStory, Co-founder Rohan Mirchandani said:
“Our idea for Series C wasn’t just to raise capital but also get the right partners to scale the business. Therefore, we got Danone and the others on the supply chain side. Our partnership and investment with Deepika will be more towards building awareness about Epigamia. Moving forward she will be advising us on various aspects and providing crucial feedback, which will take the brand forward into newer offerings.”
Launched in June 2015, Epigamia has more than 21 different types of products and is available across 10,000 touch points, including modern trade chains like Reliance Fresh, Godrej Nature’s Basket, Future GroupFoodhall, Big Bazaar, and Hypercity, and ecommerce platforms includingand Amazon. Epigamia plans to scale pan-India and enter 50,000 stores in the coming years.
In 2018, it had expanded its product portfolio from Greek yoghurt offerings and added products, including its lactose-free artisanal curd, and entered traditional segments, including Epigamia MishtiDoi, as well as introduced high protein drinkable yoghurt, Greek Yoghurt Smoothies.