Pilgrim, a fast-growing beauty and personal care brand, has raised ₹200 crore ($23 million) in a new funding round. Investors include Narotam Sekhsaria Family Office, Vertex Ventures SEA, Sattva Family Office, Mirabilis Investment Trust, Vertex Growth Fund, and Anicut Equity Continuum Fund. This funding will help Pilgrim expand its offline presence and strengthen research and development.
The company is already profitable online and aims to build a strong omnichannel presence. Founded in 2019 by Anurag Kedia, Pilgrim offers skincare, haircare, and fragrances, using ingredients from around the world. Its valuation now stands at ₹3,000 crore ($350 million).
What is Pilgrim?
Pilgrim is a Direct-to-Consumer (D2C) beauty and personal care brand that offers skincare, haircare, and fragrance products. Founded in 2019 by Anurag Kedia, the brand is known for using globally sourced ingredients from places like France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers.
Pilgrim is a digital-first brand that sells its products online but is now expanding into offline retail.
The company follows a clean beauty philosophy, offering vegan, cruelty-free, and toxin-free products. With a strong consumer base across 25,000+ pin codes in India, Pilgrim is one of the fastest-growing brands in the beauty space.
Why is This Funding Significant?
This ₹200 crore ($23 million) funding is a crucial milestone for Pilgrim as it accelerates the brand’s growth and expansion. While Pilgrim has already established a strong presence in the online market, this investment will help it expand into offline retail by opening more exclusive brand outlets (EBOs).
The funds will be used to strengthen research and development, allowing the brand to introduce more innovative and high-quality products. With a new valuation of ₹3,000 crore ($350 million), this funding reflects strong investor confidence in Pilgrim’s long-term potential. It also supports the company’s vision of building a sustainable omnichannel presence, balancing both online and offline sales.
By enhancing its brand positioning and product offerings, Pilgrim aims to strengthen its market leadership in India’s growing beauty and personal care industry.
How Will the Funds Be Used?
The ₹200 crore ($23 million) funding will be used to fuel Pilgrim’s expansion and innovation across key areas. A significant portion will go towards expanding its offline presence, with plans to open more exclusive brand outlets (EBOs) across major cities. The company will also invest in research and development (R&D) to enhance its product formulations and introduce innovative beauty solutions.
Additionally, the funds will support scaling up operations, improving supply chain efficiency, and strengthening marketing efforts. While Pilgrim is already profitable in the online segment, this investment will help it build a strong omnichannel strategy, balancing online and offline growth.
Founders’ Perspective
Pilgrim was co-founded by Anurag Kedia and Gagandeep Makker in 2019 with a vision to bring global beauty secrets to Indian consumers. Anurag Kedia, who has extensive experience in the beauty and wellness industry, believes that innovation and research are key to Pilgrim’s success.
With the latest ₹200 crore ($23 million) funding, the founders see this as a major step in expanding Pilgrim’s offline presence while strengthening R&D efforts. They believe this investment will help Pilgrim build a strong omnichannel presence, ensuring that customers get access to high-quality, globally sourced beauty products both online and in stores.
Key Takeaways
- Successful Funding Round – Pilgrim raised ₹200 crore ($23 million) from existing and new investors, boosting its valuation to ₹3,000 crore ($350 million).
- Offline Expansion – The brand will use the funds to open more exclusive brand outlets (EBOs) and strengthen its omnichannel presence.
- Investment in R&D – A significant portion of the capital will go into research and development, enhancing product innovation and quality.
- Strong Financial Growth – Pilgrim achieved 2.6X revenue growth in FY24 and maintains profitability in the online segment.
- Founders’ Vision – Anurag Kedia and Gagandeep Makker aim to blend global beauty secrets with science-backed formulations, ensuring sustainable long-term growth.
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Conclusion
Pilgrim’s latest ₹200 crore ($23 million) funding marks a significant step in its journey towards becoming a leading beauty and personal care brand. With a strong foundation in online sales, the company is now expanding its offline presence, enhancing R&D capabilities, and strengthening its omnichannel strategy.
Backed by consistent financial growth and investor confidence, Pilgrim is set to scale new heights in the Indian beauty market. As it targets an Annual Run Rate (ARR) of ₹1,000 crore by 2025, the brand remains committed to innovation, sustainability, and delivering high-quality, globally inspired beauty solutions to its growing customer base.
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