India’s booming startup landscape has captured the attention of celebrities from various domains for the last decade. Indian celebrities have invested as angel investors in more than 110 startups according to data by Tracxn as of December 2023.
These 110 startups have raised a total amount of investment worth more than $9.6 million from the big names. The total valuation of these startups invested by celebrities is $407.94 million. As per data, mostly B2C e-commerce and internet-first brands are selected to be invested in among celebrities. Meanwhile, Mumbai and Bengaluru are at the top of the list in terms of attracting investments from stars.
Famous personalities such as MS Dhoni, Deepika Padukone, Alia Bhatt, Sonu Sood, and many more have not only aided the finances of startups but also helped in converting these businesses into auspicious ventures by their star powers.
In this in-depth article, we now introduce to you ten celebrities and the startups they have invested in.
1. Alia Bhatt
Startup: Phool. Co
Established in 2017, an environment tech startup Phool. co is an online platform that offers scented candles, incense sticks, diffusers, candle holders, essential oils, and many more. Kanpur-headquartered startup Phool claims to collect waste-dumped flowers from temples all across India and create their products from it.
In July 2021 a Well-known actor and entrepreneur Alia Bhatt invested in this D2C Indian biomaterials company Phool. co with an undisclosed fund amount in its series A funding round with a pre-money valuation of $6 million in May 2021. But right after the investment from the celebrity the company secured a post-money valuation worth $21.5 million in July 2021 although the celebrity investor Alia Bhatt is not the brand ambassador of Phool. co.
Founded by Ankit Agarwal and Prateek Kumar, Phool witnessed a % increase to Rs.2859L in FY23 from Rs.1539.3L in FY22 while it saw a % YoY growth from Rs.705.7L in FY21 in its revenue. The company also faced a net loss worth Rs.243.6L in FY21 which decreased by % to Rs.181.1L in FY22 but again surged by % to Rs.355.4L in FY23.
Startup: Nykaa
Mumbai headquartered Indian e-commerce company Nykaa sells beauty, fashion, and wellness products through its website, mobile app, and around 100 physical shops. Established in 2012 by Falguni Nayar, Nykaa became the first unicorn startup led by a woman in 2020.
Bollywood star Alia Bhatt joined Nykaa as an investor in July 2020 investing an amount worth Rs.4.95Cr. in the startup’s Series F funding round as a secondary transaction with a pre-money valuation of $1.2Bn in March 2020 and a post-money valuation of $13.35Bn in 2021. Despite being the star investor Alia Bhatt is not a brand ambassador for this fashion tech company.
In FY24 this B2C startup’s revenue from operations surged by 24.1% to Rs.6386Cr. from Rs.5144Cr. in FY23 while its YoY growth in revenue increased by % from Rs.3774Cr. in FY22. Due to its stability in YoY revenue growth rate, Nykaa showcased a net profit of Rs.40Cr., Rs.21Cr. and Rs.41.3Cr. in FY24, FY23 and FY22 respectively.
2. Anushka Sharma
Startup: Blue Tribe
Mumbai-headquartered D2C startup Blue Tribe offers plant-based meat products that claim to have the same texture and taste as meat-based products. Founded in 2019 by Nikki Arora Singh, Sandeep Singh, Vijay Makwana, and Inderjit Paramjit Singh Arora this environment-friendly startup onboarded the widely-known Bollywood star Anushka Sharma as an angel investor since the celebrity invested $26.9k with a post-money valuation of $179k in February 2022. Being a hardcore animal lover, Anushka Sharma collaborated with Blue Tribe as the brand ambassador.
The food tech firm has showcased substantial growth in its revenue which increased by % to Rs.199.7L in FY22 from Rs.14.9L in FY21 while rising by % to Rs.395.6L in FY23 securing the YoY growth. Blue Tribe also witnessed a surging loss as its net loss surged by % to Rs.1124.8L in FY23 from Rs.578L in FY22 while in FY21 the company’s net loss was around Rs.141L.
Startup: Digit Insurance (Go Digit)
Founded in 2016, Digit is an insurance company that aims to make the insurance process easier for people. Founder by Kamesh Goyal and Jasleen Kohli, this fintech startup became India’s first unicorn in 2021 serves in the B2C space, and has a valuation of $4 billion as of FY22. In 2020, famous Indian actor Anushka Sharma invested in the insurer in an equity round as she acquired 66,667 shares of the company for 50 Lakhs although she is not the brand ambassador of Digit Insurance.
Bengaluru-headquartered Digit Insurance showcased a 37.4% growth in its revenue from operations to Rs.7096Cr. in FY24 from Rs.5164Cr. in FY23 while its revenue stood at Rs.3404Cr. in FY22 rising % YoY against the previous year’s income. The net profit of the firm jumped by % to Rs.182Cr. in FY24 from Rs.36Cr. in FY23 while it secured a net profit worth Rs.50Cr. in FY22.
3. Sonu Sood
Startup: Spice Money
Established in 2000, Spice Money is a rural fintech company that provides agent-based payment solutions to businesses and consumers. Noida-headquartered fintech startup Spice Money included Bollywood actor Sonu Sood as its brand ambassador as well as an investor in a series B funding round since Sood invested Rs.86.9 lakhs and acquired a 2% stake in the firm with a pre-money valuation of $26.7M. The post-money valuation of the company decreased to $21M.
Founded by Dilip Modi, Sanjeev Nand Kumar, and Rajneesh Arora this B2B startup reported a YoY growth in revenue by % to Rs.961.3Cr. in FY23 from Rs.868.4Cr. in FY22. On the other hand, the firm secured a revenue worth Rs.584.4Cr. in FY21. Spice Money also faced a net loss of Rs.6.2Cr. in FY23 which decreased by % from Rs.12.3Cr. in FY22 while the net loss reached up to Rs.10.7Cr. in FY21.
4. Deepika Padukone
Startup: Nua
Founded by Projjol Banerjea, Ravishankar Ramachandran, and Swathi Kulkarni, Nua is an online platform offering organic female hygiene products for the betterment of female menstrual wellness purposes. Established in 2017, Mumbai-headquartered company Nua serves in the sector of beauty and commerce.
In Nua’s series A funding round, Deepika Padukone, the famous actor in the Bollywood film industry participated and invested $7.1 Mn with a pre-money valuation of $13.3M while later on the company reported a post-money valuation of $30.8M. Nua also introduced actor Deepika Padukone as the face of the brand.
This D2C Femtech startup also secured substantial growth in operational revenue as it surged by 127% from Rs.921.4L in FY21 to Rs.2084.5L in FY22 while its YoY growth rose by 80% to Rs.3762.5Cr. in FY23. Nua also recorded a net loss of Rs.4100.2L in FY23 which decreased by % from Rs.4,676.5L in FY22 but increased by % from Rs.1,840.4L in FY21.
Startup: FrontRow
Founded in 2012, FrontRow is an EduTech startup that virtually provides multidisciplinary courses in different fields such as comedy, music, sports, and so on. Well-known actor and entrepreneur Deepika Padukone participated as an investor in a seed-funding series of this Bengaluru-headquartered firm with an undisclosed funding amount.
Founded by Ishaan Preet Singh, Mikhil Raj, and Shubhadit Sharma this D2C brand has not boarded Padukone as its brand ambassador. According to reports FrontRow ceased its operations in August 2023 due to difficulties in finding a viable market for its products.
5. Suniel Shetty
StartUp: Aquatein
Founded by Ananth B Prabhala and Mitisha A Mehta, a Mumbai-headquartered beverages company Aquatein offers to develop protein-infused water. Established in 2019, this D2C startup bagged an undisclosed amount in its Angel round from Bollywood star Suneil Shetty with a pre-money valuation of $2.83M. although the post-money valuation of this startup stayed rigid, Shetty became the face of this fitness firm. Serving in the FMCG sector, Aquatein secured an amount worth Rs.17.8L as its revenue from operations in FY21.
Startup: Vieroots
Founded by Aditya Narayan and Sajeev Nair, Vieroots was established in 2018 which provides research-based products and services focusing on aging, for people to live a healthy and productive life. In an angel round, Bollywood actor Suniel Shetty invested an undisclosed amount in this Bengaluru-headquartered D2C startup Vieroots with a post-money valuation of $14.5M. However, the celebrity investor is not the brand ambassador in Vieroots.
This health-tech company reported a drop in its operational revenue by % to Rs.634.5L in FY23 from Rs.1426.6L in FY22 although its revenue improved by % from Rs.295.2L in FY21 against FY22. The firm faced a net loss worth Rs.339.3L and Rs.91.3L in FY23 and FY21 respectively but saw a net profit of Rs.340.4L in FY22. Suniel Shetty has also invested in Colexion, Fitness App FITTR, Sai Estate Management and Skills Institute (SEMSI), and Beardo (Men’s grooming products).
6. Shilpa Shetty Kundra
Startup: Fast&Up
Fast&Up is a private-label brand distributor that offers online sports nutrition production, founded by Shilpa Khanna, Snehal Champaklal, Varun Khanna, and Vijayaraghavan Venugopal in 2015. This Mumbai-headquartered D2C brand bagged an undisclosed amount in an angel funding round involving Bollywood actor Shilpa Shetty Kundra as an investor.
The star of the Bollywood film industry also became the startup’s brand ambassador.
This sports tech startup secured revenue from operations worth Rs.8,038.3L in FY23 which decreased by % to Rs.4651.4L in FY22 and the firm reported revenue of Rs3,423.2L in FY21. Fast&Up saw a YoY growth in the net loss by % from Rs.1898L in FY21 to Rs.4357.5L in FY22 and by % from Rs.4357L in FY22 to Rs.5293.7L in FY23.
Startup: MamaEarth
Founded in 2016 the brand MamaEarth develops products that are mum-baby-friendly and toxin-free and that aim to solve the problems of every parent. This e-commerce company was founded by Ghazal Alagh and Varun Alagh and it received an amount of $755 in its angel round from Bollywood Shilpa Shetty Kundra who is also the brand ambassador of this Gurugram-headquartered company with a pre-money valuation of $96.1M and a post-money valuation of $1.05Bn.
MamaEarth showcased a revenue of Rs.1920Cr. in FY24 which surged by % from Rs.1492Cr. in FY23. The D2C and B2C startup MamaEarth also posted Rs.110Cr.PAT in FY24 while it faced a net loss of Rs.151Cr. in FY23. Shetty also invested in other startups such as Chicnutrix, and Simple Soulful.
7. Malaika Arora
Startup: Kapiva
Founded in 2016 by Shrey Badhani, Anuj Sharma, and Ameve Sharma Ayurvedic Healthcare brand Kapiva provides products such as Ayurvedic teas, honey, medical and health products, and so on. Bengaluru-headquartered D2C health tech firm Kapiva has a well-known personality, Malaika Arora as its brand ambassador who also invested an undisclosed amount in a series B funding round with a pre-money valuation of $48.1M and a post-money valuation of $53.2M.
Kapiva also witnessed its revenue surge by % to Rs.116.5Cr. in FY23 from Rs.62.4Cr. in FY22. Meanwhile, the company faced a net loss worth Rs.64.6Cr. in FY23 which increased by % from Rs.48.2Cr. in FY22.
8. MS Dhoni
Startup: Emotorad
Founded in 2020 by Kunal Gupta, Aditya Oza, Sumedh Battewar, and Rajib Gangopadhyay the Pune-headquartered startup Emotorad is an electric vehicle company that provides futuristic e-bikes for daily commuters as well as adventure seekers at an affordable price.
This B2C startup serves the EV sector and bagged an undisclosed amount in its angel round from former Indian Cricket Captain Mahendra Singh Dhoni as an investment with a pre-money valuation of $39.8M. Dhoni also plays the role of the startup’s brand endorser.
Emotorad showcased a revenue of Rs.145Cr. in FY24 which increased by % from Rs.128Cr. in FY23 while the firm faced a net loss of Rs.9.7Cr. in FY23 which increased by % from Rs.2.1Cr. in FY22.
Startup: Cars24
Founded by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal the AutoTech startup Cars24 is an App-based platform that enables car owners and sellers to evaluate their vehicles for buying second-hand cars. Established in 2015 the Gurugram-headquartered B2B, B2C firm Cars24 secured an undisclosed amount in its series D funding round from the legend of Cricket M.S. Dhoni with a pre-money valuation of $234M and a post-money valuation worth $497M while Dhoni is the face of the brand too.
Cars24 showcased a revenue from its operation worth $903.3M in FY23 which increased by % from $799M in FY22. Meanwhile, the company posted a net loss of $168M in FY23 which dropped by % from $248.1M in FY22.
9. Ranveer Singh
Startup: Bold Care
Founded by Rajat Jadhav, Harsh Singh, Mohit Yadav, and Rahul Krishnan, established in 2019 D2C brand Bold Care is an online pharmacy platform that provides drugs for men’s health such as sexual health drugs, hair fall, immunity boosters, and organic supplements. Mumbai-headquartered HealthTech brand Bold Care’s brand ambassador is a famous Bollywood actor Ranveer Singh. Singh has also invested an undisclosed amount in the company’s seed funding round.
This health tech firm achieved a revenue of Rs.3155L in FY23 which surged by % from Rs.846.1L in FY22 while the company also faced a net loss of Rs.1589L in FY23 that grew over % from Rs.455.4L in FY22.
Startup: boAt
Founded by Aman Gupta and Sameer Mehta Mumbai-headquartered D2C as well as B2C company boAt is a consumer electronic brand specializing in audio products such as headphones, earphones, speakers, and so on. Established in 2013 this HighTech audio specialized startup bagged an undisclosed amount as an investment from its own brand ambassador Bollywood actor Ranveer Singh.
boAt secured revenue of Rs.3377Cr. in FY23 which increased by % from Rs.2873Cr. in FY22 while the startup witnessed a net loss of Rs.129.4Cr. in FY23 surged by % from 68.7Cr. in FY22.
10. Katrina Kaif
Startup: Nykaa
Mumbai headquartered Indian e-commerce company Nykaa sells beauty, fashion, and wellness products through its website, mobile app, and around 100 physical shops. Established in 2012 by Falguni Nayar, Nykaa became the first unicorn startup led by a woman in 2020.
Bollywood star Katrina Kaif joined Nykaa as an investor in July 2020 investing an amount worth Rs.2.02Cr. in the startup’s Series F funding round as a secondary transaction with a pre-money valuation of $1.2Bn in March 2020 and a post-money valuation of $13.35Bn in 2021 while the star investor Katrina is not a brand ambassador for this fashion tech company.
In FY24 this B2C startup’s revenue from operations surged by 24.1% to Rs.6386Cr. from Rs.5144Cr. in FY23 while its YoY growth in revenue increased by % from Rs.3774Cr. in FY22. Due to its stability in YoY revenue growth rate, Nykaa showcased a net profit of Rs.40Cr., Rs.21Cr. and Rs.41.3Cr. in FY24, FY23 and FY22 respectively.
