Monday, February 26, 2024
HomeInsightFunding Alert Pilgrim Secures $20 mn in Funding Round led by Vertex Ventures

[Funding alert] Pilgrim Secures $20 mn in Funding Round led by Vertex Ventures

Pilgrim, a D2C personal care company, secured $20 million in its most recent round of funding, which was spearheaded by Vertex Ventures Southeast Asia and India. Existing investors Fireside Ventures and the Narotam Sekhsaria Family Office also participated in the round.

Pilgrim, a D2C personal care company, secured $20 million in its most recent round of funding, which was spearheaded by Vertex Ventures Southeast Asia and India. Existing investors Fireside Ventures and the Narotam Sekhsaria Family Office also participated in the round.

The company stated that it intended to use the funds raised to support its offline growth strategies, brand-building efforts, and development efforts.

Read also – Flipkart Ventures invests in five early-stage tech startups through its ‘Flipkart Leap Ahead’ program

By the end of the year, Pilgrim intends to open five exclusive stores, with a focus on cities like Mumbai, Chennai, Bengaluru, and New Delhi. It can currently be found in about 300 partner stores that sell cosmetics and personal care items.

“We are now already present across more than 300 beauty advisor counters and this number is expected to increase substantially over the next 12 to 15 months,” Cofounders Anurag Kedia and Gagandeep Makker added.

Read also – Trifecta Capital Closes Third Venture Debt Fund At Rs 1,777 Cr

Cofounders Anurag Kedia and Gagandeep Makker said “We are entering the festive season, and for most consumer brands, months like October, November, and December are the peak time for sales. We hope that we can build upon what we have already delivered in August, and we expect to add close to 30-40 stock-keeping units (SKUs) by December this year over the around 90 SKUs we currently have in our portfolio.”

About Pilgrim

One of the most cutting-edge and rapidly expanding D2C (Direct-to-Consumer) companies in the beauty industry is Pilgrim. It offers a vibrant, fast-paced, and enjoyable culture to be a part of and was founded by serial entrepreneurs from IIT Bombay and IIM Ahmedabad.

Read also – [Funding alert] Uber-backed Everest Fleet Secures Rs 50 cr from Paragon Partners

Viestories

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -