Mumbai-based beauty and personal care brand Pilgrim, has secured $20 million to strengthen Pilgrim’s brand presence, accelerate research and development efforts, and expand its offline footprint across India, as per an official statement. Pilgrim had previously amassed a total funding of Rs 48 crore.
In its earlier funding journey, the firm raised Rs 13 crore in a Series A round, spearheaded by Fireside Ventures, alongside support from notable angel investors, including founding teams from Boat, NoBroker, and the founder-CEO of Bewakoof.com. The remaining funds were secured through a bridge round, once again led by Fireside Ventures and the Narotam Sekhsaria Family Office.
Pilgrim Eyes ₹1000 Cr ARR by 2025
Founded in 2019 by Anurag Kedia and Gagandeep Makker, the personal care and beauty firm aims to establish the personal care market with accessible solutions. Currently boasting an impressive annualized revenue rate (ARR) of Rs 300 crore, Pilgrim has set its sights on a remarkable Rs 1,000 crore ARR by 2025. The company’s exponential growth is underscored by a loyal customer base of five million, with an astounding 500,000 new customers joining their ranks every month.
Anurag Kedia and Gagandeep Makker, the visionaries behind Pilgrim, emphasized their commitment to tailoring effective solutions to meet individual consumer needs. They have actively engaged with their customers to co-create products, resulting in groundbreaking innovations that are reshaping India’s beauty and personal care landscape.
Kanika Mayar, a Partner at Vertex Ventures SEA & India, praised Pilgrim’s achievements, highlighting the brand’s strong product formulations and unique international product offerings that bring high-quality and effective solutions directly to the doorstep of Indian consumers. The firm’s journey is marked by innovation and accessibility, making it a formidable contender in the beauty and personal care market.
The Series B funding round. round was led by Vertex Ventures Southeast Asia and India, with participation from existing investors Fireside Ventures and the Narotam Sekhsaria Family Office.
