Pilgrim secures Rs 200 crore funding at Rs 3,000 crore pre-money valuation

The beauty brand will use the funding to help the online brand deepen its offline presence and enhance research and development capabilities

Pilgrim, a leading Indian clean beauty brand, has secured Rs 200 crore in a new funding round, valuing the company at approximately Rs 3,000 crore pre-money. The company said this investment, a mix of primary and secondary capital, reinforces investor confidence in Pilgrim's market leadership and growth potential.

 

The round saw participation from existing investors Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust, alongside new investors Vertex Growth Fund and Anicut Equity Continuum Fund.

 

The funding will build upon the brand's existing online profitability, deepen its offline presence, and enhance research and development capabilities.

 

“Our commitment to innovative, world-ingredient beauty solutions has cultivated strong consumer loyalty, solidifying our category leadership,” said Gagandeep Makker, co-founder, Pilgrim. “With this capital, we will expand our offline reach and bolster R&D to align with modern consumer preferences. The continued trust from our investors validates our vision."

 

 

Launched in 2020, Pilgrim's diverse portfolio—spanning skincare, haircare, and colour cosmetics—caters to a nationwide audience through its website, app, and major e-commerce platforms. It now serves over a million consumers monthly. With a gross annual run rate (ARR) exceeding Rs 800 crore and a rapidly expanding retail presence, Pilgrim said it is poised for continued growth.