Pilgrim has secured Rs 200 crore in funding to enhance its offline presence and R&D capabilities, with the aim of reaching an annual revenue run rate of Rs 1,000 crore by 2025.

Target Information

Pilgrim, a direct-to-consumer (D2C) brand specializing in beauty and personal care products, has successfully secured Rs 200 crore in funding, combining both primary and secondary investments. This Mumbai-based company was founded in 2019 by Gagandeep Makker and Anurag Kedia and offers a diverse range of over 250 products, including haircare, skincare, makeup, and fragrances. Pilgrim has established a strong presence through its website, mobile app, and popular e-commerce platforms like Amazon, Nykaa, Flipkart, Zepto, Blinkit, and Instamart, serving more than a million customers monthly.

The company’s valuation reached Rs 3,000 crore prior to this funding round, which was led by its existing investor, Narotam Sekhsaria Family Office (NSFO), with contributions from Vertex Ventures SEA, Sattva Family Office, and Mirabilis Investment Trust, among others. Following this latest funding, Pilgrim's total capital raised to date amounts to approximately Rs 421 crore.

Industry Overview in India

The Indian beauty and personal care industry has been experiencing significant growth, driven by changing consumer preferences, a rise in disposable incomes, and an increasing inclination towards premium and na