Homegrown D2C beauty and personal care brand, Pilgrim, strengthened its vision to make borderless beauty experiences accessible and affordable for 400 million Indian millennials. The innovative brand that curates global beauty traditions raised Rs 13 crore in Series A funding.
The round has been led by Fireside Ventures, Rukam Capital, and founding teams of Boat, NoBroker, and the founder-CEO of Bewakoof.com, with Dexter capital as the transaction advisor.
Within a year of launch (in May 2020), Pilgrim is witnessing an ARR of Rs 18 crore backed by innovation, R&D capabilities, and a disruptive supply chain. The funding will be primarily used for enhancing R&D capabilities, team expansion, and brand investments.
The R&D-focused brand has seen increased consumer inclination towards well-being and believes that the D2C personal care space holds tremendous growth potential. The company is aggressively investing in building a high-performance, high-trust culture rooted in innovation for young talent. The founders’ vision is to build a workplace that enables growth opportunities in a highly dynamic space and ignites a sense of pride and loyalty for employees. Pilgrim is planning to expand its team by 50 percent in the next 6 months.
Anurag Kedia & Gagandeep Makker, Co-Founders of Pilgrim, said, “Pilgrim embodies a way of life and not just a global array of products. It represents the journey and experiences of a modern millennial’s life and hence the tagline “Join The Journey”. At the core of Pilgrim exists a passionate team that is curating “native” global experiences and not merely importing global ingredients. We believe in “clean beauty” and hence offer a product range that is 100% vegan, free of harmful toxins, and not tested on animals. This funding strengthens our belief in the potential of the Indian D2C personal care and beauty industry. It takes us closer to our vision of empowering the modern millennials with global beauty rituals at the click of a button.”
Vinay Singh, Co-Founder & Partner, Fireside Ventures, stated, “The founding team of Pilgrim has a unique vision of bringing the best of global beauty rituals and ingredients to Indian consumers. They have the right attitude and skill-sets to be able to achieve this vision. In a short span of time, the brand has created a differentiated position in the market and the consumer feedback is very encouraging. We believe that Pilgrim will serve the millennial consumers globally and will become an international beauty brand in the future.”
Archana Jahagirdar, the Managing Partner of Rukam Capital, added, “Pilgrim is an innovative and unique beauty brand that is making the best of global traditions accessible to millions of people. We believe that this brand will be the major disruptor in the global beauty and personal care market in the near future.”
Pilgrim offers 2 ranges at the moment. The first range is a K-Beauty range and is called ‘Secrets of Jeju Island, Korea’. K beauty is a hot trend and is seeing increasing adoption across the globe. The second range is around the French Anti-Ageing beauty tradition of Vinotherapy and uses Vine (Vitis Vinifera) as a key ingredient. The company has partnerships across the globe to drive R&D and innovation.