VC Fund Investments
Beauty & personal care brand Pilgrim raises $9-M from Fireside, Vertex
Mumbai-headquartered beauty and personal care D2C (direct-to-consumer) firm Pilgrim has raised INR 75 crore (approximately USD 9 million) in its extended Series B round led by Fireside Ventures and Vertex Ventures. Pilgrim will issue 854 Series B1 and B2 preference shares at INR 8,77 655 each to raise the sum.Fireside and Vertex Ventures invested INR 25 crore and INR 23 crore respectively. NSFO Ventures, Mirabilis Investment and NABS Vriddhi cumulatively invested INR 27 crore during the round. The company will use these proceeds for expansion. The company was valued at INR 2,075 crore (around USD 250 million) post-allotment.Fireside Ventures remains the largest external stakeholder with a 23% stake, followed by Vertex Ventures, which holds 11.2%. NSFO Ventures and Mirabilis Investment command 5.57% and 2.81% stakes, respectively.Founded by Anurag Kedia in 2019, Pilgrim offers more than 90 SKUs (stock keeping units) across face care, haircare, and skincare products, and fragrances. The five-year-old firm has raised around USD 35 million across rounds including its USD 20 million Series B led by Vertex Ventures in 2023.
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