Mila Beauté Attracts $2.16 Million in Funding for Growth
Mila Beauté, a proudly local cosmetics brand, has successfully raised $2.16 million (around Rs 18 crore) during its pre-Series A funding round, spearheaded by Rukam Capital. The company has been valued at Rs 303 crore or $35.3 million.
The funds will be allocated for various activities including expansion and research & development. Mila Beauté is also set to invest in the creation of new products, enhancing its operational capacity, and increasing its presence in the market.
Established by Saahil Nayar, Sachin Chadha, and Keshav Chadha, Mila Beauté provides a diverse range of beauty products such as lipsticks, foundations, eyeliners, and much more.
Offering a comprehensive selection, Mila Beauté delivers high-quality, innovative makeup infused with skincare benefits, all while ensuring that their products are free from harmful chemicals.
At present, the startup reports annual revenues of $7.23 million and aims for a twofold growth in the coming 12 to 18 months.
Mila Beauté currently has a presence in over 10,000 retail outlets throughout India, with ambitious plans to double this number by the end of the year.
