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PRNewswire
Mumbai (Maharashtra) [India], March 18: Pilgrim, a leading Indian clean beauty brand, has secured Rs200 crore in a new funding round, valuing the company at approximately Rs3,000 crore pre-money. This investment, a mix of primary and secondary capital, reinforces investor confidence in Pilgrim's market leadership and growth potential. The round saw participation from existing investors Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust, alongside new investors Vertex Growth Fund and Anicut Equity Continuum Fund. The funding will build upon the brand's existing online profitability, deepen its offline presence and enhance research & development capabilities. Gagandeep Makker, Co-founder of Pilgrim, stated, "This funding marks a pivotal moment for Pilgrim. Our commitment to innovative, world-ingredient beauty solutions has cultivated strong consumer loyalty, solidifying our category leadership. With this capital, we will expand our offline reach and bolster R&D to align with modern consumer preferences. The continued trust from our investors validates our vision." Pilgrim's brand philosophy, which combines globally sourced natural ingredients with scientific formulations, underscores its expertise in blending quality and innovation. This funding will accelerate Pilgrim's growth 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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