D2C personal care brand Pilgrim has raised $20 Mn (around INR 166 Cr) in a funding round led by Temasek’s VC arm Vertex Ventures Southeast Asia and India, with participation from existing investors Fireside Ventures and Narotam Sekhsaria Family Office.
Founded in 2019 by Kedia and Gagandeep Makker, Pilgrim sells personal care products in categories like face and hair care, and bath & body. The startup claims its products are FDA-approved and free from parabens, sulphates and mineral oils. The D2C brand claims to have over 5 Mn customers, with 500K customers being added every month.
Pilgrim secured INR 13 Cr funding in its Series A round in June 2021, with INR 1.8 Cr in an angel round before that. In all, the startup is said to have secured around INR 48 Cr in funding, before the current round.
The D2C brand plans to deploy the incoming funding in R&D initiatives, brand-building and improving its offline presence. Pilgrim plans to launch five exclusive outlets by the end of this year, targeting cities such as Mumbai, Chennai, Bengaluru and New Delhi.
In May 2023, the startup appointed Vishakh Narendran as its CBO to accelerate its entry into the offline market. Currently, the D2C brand claims to be present in about 300 partner stores selling beauty and personal care products.
In a statement, cofounders Kedia and Makker, said, “Our commitment to sourcing world beauty ingredients and addressing consumer requirements remains unwavering, bolstered by the invaluable support of our esteemed partners, Vertex Ventures, Fireside Ventures, and the Narotam Sekhsaria Family Office. Their faith in our solid business fundamentals fuels our ambition to emerge as frontrunners in India’s expansive beauty and personal care sector.”
The D2C brand has recently introduced a loyalty program, PilgrimTRIBE, for customers who shop regularly. Pilgrim rewards customers in PilgrimMILES on each order placed which can be then redeemed on subsequent purchases.
Pilgrim was amongst the 42 fastest-growing D2c brands shortlisted by Inc42 for FAST42’s inaugural edition in 2022.
The brand competes with the likes of Mamaearth, SUGAR Cosmetics, Juicy Chemistry, Nykaa and dozens of other D2C brands in India’s highly competitive personal care space. Per Inc42’s State Of Indian Ecommerce Report Q3 2023, the beauty and personal care market was a $4 Bn opportunity in 2022, set to rise to $28 Bn in 2030 at a CAGR of 27%.
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