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PRNewswire
Mumbai (Maharashtra) [India], March 18: Pilgrim, one of India's fastest-growing beauty and personal care brands, has successfully raised Rs200 crore in a mix of primary and secondary funding rounds. The round saw participation from existing investors, Narotam Sekhsaria Family Office (NSFO), Vertex Ventures SEA, Sattva Family Office, and Mirabilis Investment Trust, alongside new investors, Vertex Growth Fund and Anicut Equity Continuum Fund, reaffirming strong investor confidence in the company's future. Pilgrim's valuation has surged to approximately Rs3,000 crore pre-money, reflecting an impressive increase from its previous valuation in 2024. The fundraising comprises a mix of primary and secondary investments, reaffirming investor confidence in Pilgrim's category leadership and strong growth trajectory. This investment is a strong endorsement of Pilgrim's long-term potential, driven by its innovative SKUs, global beauty and science-led formulations, and deeply engaged consumer community. This capital will fuel Pilgrim's strategic expansion into offline distribution and further strengthen its R&D capabilities. While already profitable in the online segment, this investment will further strengthen the efforts to build a sustainable omnichannel presence. Commenting on the milestone, Gagandeep Makker, Co-founder of Pilgrim, said: "This investment represents a pivotal chapter in Pilgrim's journey. Our unwavering commitment to delivering innovative, ingredient-driven beauty solutions has fostered deep consumer loyalty and established us as a category leader in the beauty space. With this new capital, we are poised to expand our offline presence and enhance our research and development capabilities. The unwavering trust of our investors is both a validation of our vision and a catalyst for what's next." Pilgrim's differentiated brand philosophy, anchored in discovering the best international beauty ingredients along with science-backed formulations, reflects its expertise in seamlessly blending high-quality, globally sourced naturals with cutting-edge innovation. As the brand continues to grow, this funding will propel Pilgrim to new heights, ensuring it continues to lead beauty innovation and market expansion in India and beyond. About Pilgrim Pilgrim, a pioneering digital-native beauty brand, is redefining India's beauty landscape. Launched in 2020, Pilgrim swiftly captured the hearts of modern consumers with its innovative, world ingredients-focused approach. The brand's philosophy centers on discovering global beauty secrets, and blending them with cutting-edge science to deliver effective, accessible products. Pilgrim's diverse portfolio, spanning skincare, haircare and colour cosmetics caters to a nationwide audience through its website, app, and major e-commerce platforms. By prioritizing transparency and quality, Pilgrim has cultivated a loyal customer base, serving over a million consumers monthly. With a gross Annual Run Rate (ARR) exceeding Rs800 crore and a rapidly expanding retail presence, Pilgrim is poised for continued growth. For more information: www.discoverpilgrim.com Photo: https://mma.prnewswire.com/media/2642869/Pilgrim_Team_Picture.jpg Logo: https://mma.prnewswire.com/media/2642868/pilgrim_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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