Mila Beauté, a homegrown cosmetics brand, has raised $2.16 million (approximately ₹18 crores) in its pre-Series A funding round led by Rukam Capital at a valuation of ₹303 crores ($35.3 million).
The fresh funds raised will be used for expansion and research & development. Mila Beauté also aims to strengthen its core business in the color cosmetics segment while also investing in new product development, scaling operations, and deepening its market presence.
The funds will also be used for upgrading its manufacturing capabilities.
Founders Saahil Nayar, Sachin Chadha and Keshav Chadha, Mila Beauté, said, “Our focus has always been on creating a beauty brand that’s not just trend-driven but deeply rooted in data and consumer insight. Today’s Indian consumers are discerning, and we believe they deserve products that are both high-quality and homegrown. Partnering with Rukam Capital gives us the strategic backing to scale faster, whether it’s investing in our own manufacturing, developing innovative skin-friendly products, or strengthening our brand presence. Most importantly, it allows us to stay closely connected to our consumers while ensuring we never compromise on quality or our vision.”
Archana Jahagirdar, Founder and Managing Partner, Rukam Capital said, “The Indian beauty and cosmetics industry is at a fascinating juncture, with consumers increasingly seeking products tailored to the evolving needs of the modern audience. Mila Beauté stands out with its research-driven approach, prioritizing skincare and superior quality, set to redefine the beauty experience in the years ahead. The company’s vision, the founder’s leadership, and its commitment to innovation make it a compelling opportunity for us at Rukam Capital to support this dynamic segment. We are thrilled to be part of Mila Beauté’s growth journey and to contribute to its exciting future.”
Founded by Saahil Nayar, Sachin Chadha, and Keshav Chadha, Mila Beauté offers a diverse range of beauty products, including lipsticks, foundation, eyeliners, and skincare-infused makeup.
Mila Beauté caters specifically to the diverse needs of Indian consumers and emphasizes high-quality formulations free from harmful chemicals.
Mila Beauté claims to have a presence at over 10000 retail counters across India.
Currently clocking annual revenues of $7.23 million, Mila Beauté is targeting double growth in the next 12–18 months.
