Homegrown cosmetics brand Mila Beauté raises $2.16 million in a pre-Series A round

Homegrown cosmetics brand Mila Beauté has raised $2.16 million (approximately Rs 18 crore) in a pre-Series A funding round led by Rukam Capital at a valuation of Rs 303 crore ($35.3 million). 

The startup plans to use the raised capital to expand operations, invest in R&D, develop new product lines, scale operations, and deepen its market presence.

Mila Beauté's offerings

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. The brand emphasizes high-quality formulations free from harmful chemicals.

It currently records annual revenues of $7.23 million and is targeting 2x growth within the next 12–18 months.

Expanding retail reach nationwide

Mila Beauté claims to have a presence in over 10,000 retail counters across India and plans to double this footprint by year-end.

"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," the founders said in a statement.

"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," said Archana Jahagirdar, Founder and Managing Partner of Rukam Capital.