PE Fund Investments
D2C personal care co Pilgrim raises $20-M led by Vertex Ventures
Mumbai-based Pilgrim, a D2C (direct-to-consumer) beauty and personal care brand, has raised USD 20 million led by Vertex Ventures along with existing investors Fireside Ventures and Narotam Sekhsaria Family Office. The Series B funding will be used for brand building, research, and bolstering the firm's offline presence. The brand offers a range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and the Swiss glaciers. Founded in 2019 by Anurag Kedia and Gagandeep Makker, Pilgrim claims to have 5 million customers, adding 500,000 more every month. The company clocked around INR 26 crore in revenue and claims an annual recurring revenue (ARR) of about INR 300 crore.
From the Venture Intelligence PE-VC Deal Database: Between June-2021 and June-2022, Pilgrim had raised over USD 6 M from Fireside Ventures, Rukam Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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