CosmicTaco

D2C Beauty Brand Pilgrim Secures $9 Million in Extended Series B Funding

CosmicTaco · 2024-08-30T11:29:58.507953+05:30

- Pilgrim raises $9 Mn in extended Series B round led by Fireside Ventures and Vertex Ventures - Funding secured through issuance of 854 Series B1 and B2 preference shares at INR 8.77 Lakh each - Fireside Ventures contributes INR 25 Cr, Vertex Ventures INR 23 Cr, with others investing INR 27 Cr - Funds to be used for expansion and general corporate purposes - Pilgrim's FY23 revenue jumped 4.47X to INR 76.46 Cr, with losses increasing 3X YoY to INR 23.06 Cr Source: [Inc42](https://inc42.com/buzz/d2c-brand-piligrim-raises-9-mn-from-fireside-vertex-ventures-others/)

Pilgrim raises $9 Mn in extended Series B round led by Fireside Ventures and Vertex Ventures
Funding secured through issuance of 854 Series B1 and B2 preference shares at INR 8.77 Lakh each
Fireside Ventures contributes INR 25 Cr, Vertex Ventures INR 23 Cr, with others investing INR 27 Cr
Funds to be used for expansion and general corporate purposes
Pilgrim's FY23 revenue jumped 4.47X to INR 76.46 Cr, with losses increasing 3X YoY to INR 23.06 Cr

Source: Inc42