Mila Beauté raises $2.16 Mn in pre-series A round led by Rukam Capital

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Mila Beauté, a homegrown cosmetics brand, has raised $2.16 million (approximately Rs 18 crore) in its pre-Series A round led by Rukam Capital at a valuation of Rs 303 crore or $35.3 million. The proceeds will be used for expansion and research & development. It will also invest in new product development, scaling operations, and deepening its market presence. Founded by Saahil Nayar, Sachin Chadha, and Keshav Chadha, Mila Beauté offers a range of beauty products including lipsticks, foundation, eyeliners, and more. With products spanning all categories, Mila offers high-quality, innovative, skin-care-infused makeup that is free from all harmful chemicals. Currently, the startup claims that it is clocking annual revenues of $7.23 million and is targeting a 2x growth in the next 12–18 months. With a presence at over 10,000 retail counters across India, Mila Beauté plans to double the number by the end of the year. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.