Pilgrim, one of India’s fastest-growing beauty and personal care brands, has successfully raised ₹200 crore ($23 million) in a recent funding round. The investors include Narotam Sekhsaria Family Office, Vertex Ventures SEA, Sattva Family Office, Mirabilis Investment Trust, Vertex Growth Fund, and Anicut Equity Continuum Fund.
This significant investment will propel Pilgrim’s offline expansion and enhance its research and development (R&D) capabilities. Currently valued at ₹3,000 crore ($350 million), Pilgrim continues its growth trajectory, maintaining profitability in the online sector.
About Pilgrim
Pilgrim is a leading Direct-to-Consumer (D2C) brand offering a wide range of skincare, haircare, and fragrance products. Founded in 2019 by Anurag Kedia and Gagandeep Makker, Pilgrim has gained recognition for using globally sourced ingredients from regions like France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss Glaciers.
Embracing a clean beauty philosophy, Pilgrim offers vegan, cruelty-free, and toxin-free products. With a strong presence across 25,000+ pin codes in India, it is a preferred choice among beauty enthusiasts.
Why is the Funding Significant?
The ₹200 crore funding marks a pivotal moment for Pilgrim. While the brand enjoys considerable success online, the investment will enable the expansion of its offline presence through the launch of exclusive brand outlets (EBOs).
Additionally, Pilgrim plans to invest heavily in research and development to introduce innovative products and enhance existing formulations. The increased valuation and investor support signify confidence in the brand’s future growth and omnichannel strategy.
How Will Pilgrim Utilize the Funds?
Pilgrim’s funding will be strategically allocated to accelerate growth in the following areas:
- Offline Expansion: Establishing more exclusive brand outlets (EBOs) across major cities to increase physical presence.
- Research & Development: Enhancing product innovation and introducing high-quality beauty solutions.
- Operations Scaling: Improving supply chain efficiency and operational effectiveness.
- Marketing and Brand Positioning: Strengthening brand awareness and capturing a larger market share.
Founders’ Vision
Anurag Kedia and Gagandeep Makker founded Pilgrim to bring global beauty secrets to Indian consumers. With years of industry experience, the founders emphasize the importance of continuous innovation and delivering science-backed beauty solutions.
Kedia believes that the latest funding will not only expand Pilgrim’s offline footprint but also position the brand as a leader in the beauty and personal care industry. The goal is to ensure a seamless shopping experience for customers across both online and offline channels.