The investment will fuel its strategic expansion into offline distribution and further strengthen its R&D capabilities
Bengaluru: Mumbai-based beauty and personal care brand Pilgrim has raised Rs 200 crore in a mix of primary and secondary funding rounds, a release said on Tuesday.
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.
With the new capital raise, Pilgrim’s valuation has surged to approximately Rs 3,000 crore pre-money, reflecting an increase from its previous valuation in 2024. The investment will fuel its strategic expansion into offline distribution and further strengthen its R&D capabilities. While already profitable in the online segment, this will further strengthen the efforts to build a sustainable omnichannel presence, the release added.
“This investment represents a pivotal chapter in Pilgrim’s journey.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,” said Gagandeep Makker, Co-founder of Pilgrim.
Launched in 2020, Pilgrim’s portfolio spanning skincare, haircare and colour cosmetics caters to a nationwide audience through its website, app, and major e-commerce platforms. The company boasts a gross annual run rate (ARR) exceeding Rs 800 crore, complemented by a rapidly expanding retail presence.
