Pilgrim Secures Rs. 200 Crore Funding to Expand Omnichannel Presence
Mumbai-based beauty and personal care brand Pilgrim has successfully raised Rs. 200 crore in a funding round led by Vertex Growth Fund and Anicut Equity Continuum Fund. This round also saw participation from existing investors, including Narotam Sekhsaria Family Office, Vertex Ventures SEA, and Mirabilis Investment Trust. The funding, a mix of primary and secondary capital, values the company at an impressive Rs. 3,000 crore pre-money.
Pilgrim plans to utilize the fresh capital to strengthen its offline distribution network, enhance research and development capabilities, and expand its omnichannel presence. The brand, which already boasts profitability in its online segment, aims to achieve an annual revenue run rate (ARR) of Rs. 1,000 crore by the end of 2025.
Founded in 2019 by Gagandeep Makker and Anurag Kedia, Pilgrim has carved a niche in the beauty market with its innovative, globally sourced ingredients and science-backed formulations. The brand offers over 250 products across skincare, haircare, makeup, and fragrances, catering to a diverse customer base through its website, app, and major e-commerce platforms. Pilgrim’s offline presence is also growing rapidly, with products available in over 10,000 retail stores across India.
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