14 May 2019, India:
Bollywood celebrity Deepika Padukone has invetsed in Mumbai-based Drums Food, the maker of yogurt brand Epigamia.
The financial details of the investment have not been disclosed yet.
The investment is part of a multi-crore strategic partnership where Deepika Padukone will be endorsing the brand and will act as its brand ambassador. As part of the deal, Padukone will own equity in Drum Foods.
The investment has been made through KA Enterprises LLP. KA Enterprises LLP is a fully owned corporate entity of Deepika Padukone.
“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 (venture capital) fund,” Drums Food International said in a statement.
Rohan Mirchandani, co-founder, Drum Foods, said, “Her (Padukone’s) involvement will accelerate the pace of reach for our products.”
The company will use the fresh capital to expand into new products and enter new cities.
Epigamia was launched in 2015. It is currently available in 20 stock keeping units (SKUs) under greek yogurt, artisanal curd, snack pack, MishtiDoi and smoothies.
Drum Foods was founded by Rohan Mirchandani, chef Ganesh Krishnamurthy, Rahul Jain, and Uday Thakkar in 2008. Its products are sold through more than 10,000 retail stores, including modern trade chains and e-coomerce platmforms like Reliance Fresh, Godrej Nature’s Basket, Future Group Foodhall, Big Bazaar, Hypercity, Amazon.
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