FUNDING NATIONAL
MUMBAI, MAHARASHTRA, INDIA
By IFAB MEDIA - NEWS BUREAU - September 27, 2023 | 52 2 minutes read
Mumbai-based beauty and personal care direct-to-consumer (D2C) brand, Pilgrim, has successfully secured $20 million in a Series B funding round. The investment was led by Vertex Ventures Southeast Asia and India, with participation from existing partners Fireside Ventures and Narotam Sekhsaria Family Office.
Pilgrim, founded in 2019 by IIT alumni Anurag Kedia and Gagandeep Makker, offers over 90 stock keeping units (SKUs) in face care, haircare, skincare, and fragrances, available in more than 25,000 pin codes across India. The brand prides itself on using high-quality, globally sourced ingredients, including those from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers.
Kanika Mayar, Partner at Vertex Ventures SEA & India, commented, "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."
Vinay Singh, Founding Partner at Fireside Ventures, added, "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."
Pilgrim faces competition from other brands such as The Good Glamm Group, Nykaa, and Mamaearth. With this Series B funding, Pilgrim aims to further expand its reach and offerings in the beauty and personal care sector.