Beauty and personal care brand Pilgrim has raised Rs 200 crore ($23 million) in a funding round led by existing investor Narotam Sekhsaria Family Office (NSFO).
The round also saw participation from NSFO, Vertex Ventures SEA, Sattva Family Office, Mirabilis Investment Trust, and new investors Vertex Growth Fund and Anicut Equity Continuum Fund.
Read also – Equinix has Issued its First Green Bonds in Singapore, Raising $375Million to Support Sustainability Efforts
The new funding will help Pilgrim expand offline distribution and enhance its R&D. The company is already profitable in the online market, and this funding will support its goal of creating a strong omnichannel presence.
“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.
About Pilgrim
Pilgrim, a Mumbai-based company founded in 2019 by Gagandeep Makker and Anurag Kedia, offers more than 90 products in categories such as face care, hair care, skincare, and fragrances. It reaches customers in over 25,000 pin codes. The company uses ingredients from places like France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers.
