Pilgrim Raises $20 Million In Series B Funding The company plans to deploy this funding to increase brand building, R&D, and bolstering offline expansion within India
By Teena Jose
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Pilgrim, a beauty and personal care brand has raised $20 million in Series B funding led by Vertex Ventures Southeast Asia and India along with existing investors Fireside Ventures and Narotam Sekhsaria Family Office. The company plans to deploy this funding to increase brand building, R&D, and bolstering offline expansion within India.
"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," said Anurag Kedia and Gagandeep Makker, co-founders of Pilgrim, in a joint statement.
With a focus on innovation and authenticity, Pilgrim claims that it is currently at INR 300 crore ARR, and is planning to scale to INR 1000 crore ARR by 2025.
"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 and personal care industry and we look forward to working with the team in creating a truly aspirational and global brand," said Kanika Mayar, partner at Vertex Ventures SEA and India.
