07 Oct 2023
Pilgrim, a D2C beauty and personal care brand, received a funding of Rs. 20 million from Vertex Ventures Southeast Asia and India as well as earlier investors Fireside Ventures and Narotam Sekhsaria Family Office.
According to Anurag Kedia, Founder, Pilgrim, the main USP of the brand are the ingredients used in the products which are sourced from the country of origin. Pilgrim products are made with exotic and efficacious ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and the Swiss glaciers.
All its products are reasonably priced even though sourcing raw materials is expensive. Recently, it introduced two new products in India. All its products are vegan and free from toxins.
Pilgrim started out as a digital brand, but now it intends to expand its offline presence too. Presently, 8% of its sales are from offline portals. In terms of revenues, it has got Rs. 26 crores in revenue with an annual recurring revenue of Rs. 300 crores and intends to take it to Rs. 1,000 crores by 2025.