Pilgrim raises $9 million in funding round led by Fireside Ventures, Vertex Ventures

Pilgrim, a leading direct-to-consumer beauty and personal care brand has raised $9 million (Rs 75 crore) in an extended series B funding round led by investors Fireside Ventures and Vertex Ventures.

NSFO Ventures, Mirabilis Investment, and NABS Vriddhi also contributed to this funding round.

Fireside Ventures and Vertex Ventures invested Rs 25 crore and Rs 23 crore respectively while the others collectively contributed Rs 27 crore in this round.

The capital raise was made possible through the issuance of 854 series B1 and B2 preference shares at an issue price of Rs 8,77,655 each, according to filings made with the Registrar of Companies.

The company plans to utilise the raised capital to fund expansion plans and general corporate purposes.

Founded in 2019 by Anurag Kedia, Pilgrim offers over 90 products across face care, hair care, skincare products, and fragrances.