Pilgrim, a beauty and personal care brand has raised USD 20 million in Series B funding led by Vertex Ventures Southeast Asia and India along with existing investors Fireside Ventures & Narotam Sekhsaria Family Office.
Currently, at Rs 300 crore ARR, the brand is committed to scaling to Rs 1000CR ARR by 2025.
Commenting on the funding, Co-founders Anurag Kedia and Gagandeep Makker, Pilgrim said, “Pilgrim has been steadfast in crafting efficacious solutions tailored to individual consumer needs and co-creating products alongside our customers. This approach has empowered us to introduce groundbreaking innovations, reshaping the landscape of India’s beauty and personal care market. Our commitment to sourcing world beauty ingredients and addressing consumer requirements remains unwavering, bolstered by the invaluable support of our esteemed partners, Vertex Ventures, Fireside Ventures, and the Narotam Sekhsaria Family Office. Their faith in our solid business fundamentals fuels our ambition to emerge as frontrunners in India’s expansive Beauty and Personal Care sector.”
Kanika Mayar, Partner at Vertex Ventures SEA & India said, “We are huge believers in the deepening consumer market in India and are thrilled to be partnering with Pilgrim as it looks to revolutionise the beauty and personal care industry. Pilgrim, with its strong product formulations and unique international ranges, is enabling access to high-quality and effective products for Indian customers right at their doorstep. We believe Pilgrim is at the new frontier of India’s beauty & personal care industry and we look forward to working with the team in creating a truly aspirational and global brand.”
In the past, Pilgrim has raised a total fund of Rs 48 crore. The Series-A round (INR 13CR) was led by Fireside Ventures along with Angel Investors including founding teams from Boat, NoBroker and the Founder-CEO of Bewakoof.com. Further, it had raised the remaining amount in a bridge round led by Fireside Ventures and Narotam Sekhsaria Family Office.