Mila Beaute raises Rs 18 crore in funding round led by Rukam Capital

Mila Beaute, a colour cosmetics brand has raised $2.16 million (Rs 18 crore) in its pre-series A funding round led by Rukam Capital at a valuation of Rs 303 crore.

The company will utilise the funds to expand its retail presence, research & development, diversification of product portfolio, scaling operations, and marketing.

Additionally, Mila Beaute plans to invest a significant amount in upgrading its manufacturing capabilities.

Commenting on the investment, founders Saahil Nayar, Sachin Chadha and Keshav Chadha in a joint statement said, “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 of Rukam Capital added, “We are thrilled to be part of Mila Beauté’s growth journey and to contribute to its exciting future. 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.”

Mila Beaute currently retails its beauty products at more than 10,000 multi-brand makeup counters across India. By the end of the 2025 financial year, the brand aims go double this presence to 20,000 makeup counters.