Deepa was born in Chikkamagalur district of Karnataka to Kannadiga parents. Her father Shashidhar is a coffee estate owner and mother Nanda is a housewife. She completed her schooling in Bangalore and is an alumna of St. Aloysius College in Mangalore. She also has some prior experience in modelling and has completed a one-year course in jewellery designing. During her acting career, Deepa simultaneously pursued a degree in English Literature through Distant Education.
She was in her first year in architectural engineering when she received a film offer for Saarathi, and dropped out of college to pursue a career in films. While shooting for Saarathi, she signed her second film Paramathma directed by Yograj Bhat which released a week after Saarathi. Paramathma also went on to become a successful venture. Her only 2012 release was Preetham Gubbi's Jaanu. In 2014, she was first seen in Endendu Ninagagi In 2015, she made her Tamil film debut in Enakkul Oruvan, a remake of Kannada film Lucia, in which she will play the character that Shruthi Hariharan did in the original. Even before her Tamil debut she signed up her next Tamil film, Vishnuvardhan's Yatchan. Her upcoming movie is Love Churumuri.