PRNewswire
Mumbai (Maharashtra), [India], March 18: Pilgrim, one of India’s rapidly expanding beauty and personal care companies, has successfully secured ₹200 crores through a combination of primary and secondary funding rounds. This fundraising initiative attracted contributions from current investors. investors , the Narotam Sekhsaria Family Office (NSFO), Vertex Ventures Southeast Asia (SEA), Sattva Family Office, and Mirabilis Investment Trust, along with new investors , Vertex Growth Fund and Anicut Equity Continuum Fund, underscoring robust faith from investors in the company's prospects.
Pilgrim’s valuation has skyrocketed to around ₹3,000 crore pre-money, showcasing a significant rise from its earlier assessment in 2024. The funding round includes both primary and secondary investments, which underscores investors' faith in Pilgrim's dominance within their sector and robust growth prospects. This financial support strongly attests to Pilgrim's future potential, bolstered by its cutting-edge product offerings. global beauty along with scientifically driven formulas, and an actively involved customer base.
This funding will support Pilgrim’s planned growth into physical retail outlets and enhance its research and development capacities. Having achieved profitability in digital sales, this injection of capital will bolster initiatives aimed at establishing a robust multi-channel market presence.
Commenting on the milestone, Gagandeep Makker, co-founder of Pilgrim, stated: “This investment marks a crucial phase in Pilgrim’s progression. Our steadfast dedication to providing cutting-edge, ingredient-focused skincare products has cultivated significant customer devotion and solidified our position as a frontrunner in the beauty industry. Armed with this fresh funding, we are ready to broaden our physical retail footprint and boost our R&D efforts. We appreciate the continued confidence placed in us by our investors It serves as both an endorsement of our vision and a stimulus for what comes next."
Pilgrim’s distinctive brand ethos, centered around sourcing premium global beauty components alongside scientifically validated formulas, showcases their proficiency in harmoniously merging top-notch natural elements from around the world with advanced technological advancements. With ongoing growth, this financial support will help elevate Pilgrim even further, guaranteeing that they stay at the forefront of cosmetic creativity and market enlargement both within India and internationally.
About Pilgrim
Pilgrim, an avant-garde digitally native beauty label, is reshaping India’s cosmetics scene. Introduced in 2020, Pilgrim quickly won over contemporary customers through its trailblazing focus on globally sourced ingredients. At the core of their ethos lies the exploration of global beauty Secrets combined with advanced scientific techniques to provide efficient and easily available items.
Pilgrim’s wide-ranging product line, which includes skincare, hair care, and color cosmetics, reaches customers across the country via their website, app, and prominent online marketplaces. Emphasizing openness and excellence, they have built a dedicated following, with more than one million consumers using their products each month.
Boasting an annual run rate (ARR) of over ₹800 crore and with its retail footprint quickly broadening, Pilgrim looks set for sustained expansion.
For more information: www.discoverpilgrim.com
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