Why We Invested in Pilgrim
D2C beauty and personal care brand offering skincare and haircare products made with natural ingredients
What is Pilgrim?
Pilgrim is an online beauty and wellness company that has launched an internet-first brand of multi-category personal care products. The company's initial focus is on addressing maintenance & care (face, hair, and body) and wellness (pain, stress, anxiety, sleep) needs of consumers in India.
Pilgrim has launched "Nature's secret," a brand that offers all-natural personal care products. The offerings for Nature's secret includes face wash, mask, night cream, after-shave balm, shampoo, mask, hair oil, conditioner, body butter, and body scrub.
Pilgrim's founding team consists of two co-founders, Anurag Kedia (CEO) and Gagandeep Makker (COO). Anurag is a domain expert with over 12 years of experience in the beauty-care industry. Gagandeep's core expertise lies in understanding data and creating actionable insights from the same.
Why this Industry?
India's beauty and personal care market is expected to grow significantly, with the all-natural market representing one-third of the personal care market. The growth drivers for the industry include increasing per capita spend in the segment, rural consumers spending more on beauty, and growing interest in technology in beauty products. The online beauty market is expected to reach 15% of the overall beauty market by 2023.Pilgrim's TAM in the personal care market is USD $27.23 billion in 2023.
Why we invested?
We invested in the pre-seed of Pilgrim even before the official launch of products. We love the founding team, they have the right domain expertise to build a scalable business in the persona care category. Pilgrim's internet-first brand strategy and focus on all-natural personal care products are aligned with market trends and consumer demand. The company has identified vendors for manufacturing and plans to launch a portfolio of products, iterating on winners over time.