India, March 18 -- D2C beauty and personal care brand Pilgrim has raised INR 200 Cr (about $23 Mn) via a mix of primary and secondary transactions at a pre-money valuation of INR 3,000 Cr (about $346 Mn).

The round saw participation from existing investors Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust. Vertex Growth Fund and Anicut Equity Continuum Fund were the new investors to join the startup's cap table, Pilgrim said in a statement.

However, the Mumbai-based startup did not reveal the names of the investors who sold their stakes via the secondary sale.

The startup plans to deploy the fresh capital to strengthen its omnichannel presence, especially offline presence, and also boost its research...