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The direct-to-consumer (D2C) beauty and personal care brand Pilgrim has raised USD 20 million in Series-B funding led by Vertex Ventures Southeast Asia and India, along with existing investors Fireside Ventures and Narotam Sekhsaria Family Office.
The homegrown brand, which offers a range of products, started as a digital-first brand, and is now looking to augment its offline presence as well as research and development (R&D) initiatives.
Previously, the Mumbai-based company raised a total funding of Rs 48 crore. The firm offers over 90 stock-keeping units (SKUs) across face care, haircare, skincare products, and fragrances in over 25,000 pin codes, currently selling 8,50,000 units per month.
With its effective formulations and unique international ranges, the brand enables access to high-quality and effective products for Indian customers. Its annual recurring revenue (ARR) stands at Rs 300 crore, and the brand is eyeing to ramp up to Rs 1,000 crore ARR by 2025. |
