Pilgrim’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Heavenly Secrets Private Limited | CIN: U52609MH2019PTC329867
Pilgrim, founded in 2020 by Anurag Kedia, is a Mumbai-based artisanal tea and coffee brand curating specialty blends sourced directly from farmers. Pilgrim operates an online subscription platform and boutique cafés across 5 cities, offering ethically-traded, small-batch beverages. Supported by RPSG Ventures and DSG Consumers, Pilgrim emphasizes sustainability through reusable packaging and fair-pricing models, aiming to redefine India’s premium tea and coffee experience.
| Founding year | 2020 |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Valuation | ~$100M (2023) |
| Total Funding | $21M |
| Annual Revenue | ₹25 Cr (FY24) |
| Annual Net Loss | ₹0.5 Cr (FY24) |
| EBITDA Margin | -10% (FY24) |
| Employees | ~120 (FY24) |
| Round | Date | Amount | Investors |
|---|---|---|---|
| Seed | Jan 2021 | $1M | Angel Investors |
| Series A | Jun 2022 | $5M | DSG Consumers |
| Series B | Nov 2023 | $15M | RPSG Ventures |
- Expand café footprint to 10 major metros by FY26.
- Introduce ready-to-drink bottled blends for retail distribution.
- Enhance D2C subscriptions with AI-driven personalization.
- Forge farmer co-ops for sustainable sourcing partnerships.
- Evaluate IPO post sustained profitability and 20% EBITDA margin.
In Q1 FY25, Pilgrim launched its first bottled cold brew line, achieving 30% month-on-month sales growth.
| Metric | Details |
|---|---|
| Revenue | ₹5 Cr → ₹12 Cr → ₹25 Cr |
| Net Loss | ₹3 Cr → ₹2 Cr → ₹0.5 Cr |
| EBITDA Margin | -60% → -30% → -10% |
| Employees | 50 → 80 → 120 |
| Funding | $1M → $5M → $15M |
| IPO Status | Private; eyeing IPO post profitability. |
| Expansion Focus | Cafés, retail beverages, subscriptions. |
| Latest News | Cold brew line; +30% MoM |
Pilgrim’s rapid scale in revenue and narrowing losses reflect strong market demand for premium, sustainably-sourced beverages. Strategic retail partnerships, product diversification, and path to profitability will pave the way for its IPO.
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- Inc42 & Economic Times: Pilgrim FY22–FY24 financials
- Crunchbase & Tracxn: Funding details
- Company press release: Cold brew launch
- Pilgrim website: brand overview
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