Pilgrim, a Mumbai-based beauty and personal care D2C brand, has raised $20 million in a Series B round led by Vertex Ventures Southeast Asia and India, the company announced on Tuesday, September 26. Existing partners like Fireside Ventures & Narotam Sekhsaria Family Office also participated in the latest funding round.
Pilgrim was founded in 2019 by the IIT alumni duo Anurag Kedia and Gagandeep Makker. The company claims to offer more than 90 stock keeping units (SKUs) across face care, haircare and skincare products, and fragrances in over 25,000 pin codes. It offers a wide range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers.
“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,” said Kanika Mayar, partner at Vertex Ventures SEA & India.
“Keeping consumer centricity as the core of their business, Pilgrim has built a great relationship with their customers. We look forward to seeing them redefine the beauty and personal care industry, and are committed to supporting their mission of delivering exceptional products and experiences,” said Vinay Singh, founding partner, Fireside Ventures.
The startup competes with the likes of The Good Glamm Group, Nykaa, and Mamaearth. Pilgrim has raised a total fund of Rs 48 crore. The company’s Series-A round of Rs 13 crore was led by Fireside Ventures along with angel investors including founding teams from Boat, NoBroker, and the founder & CEO of Bewakoof.com. Later, the startup raised the remaining amount in a bridge round led by Fireside Ventures and Narotam Sekhsaria Family Office.