Mila Beaute, a homegrown cosmetics brand, has raised $2.16 million (roughly 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 startup, which was founded by Saahil Nayar, Sachin Chadha, and Keshav Chadha, offers a variety of beauty products, including lipsticks, foundation, eyeliners, and more.

It will also invest in new product development, scaling operations, and expanding its market presence. Currently, Mila Beauté claims to be generating $7.23 million in revenue annually and is aiming for a twofold increase in the next 12 to 18 months.

Mila Beauté currently has over 10,000 retail counters throughout India, and plans to double its number by the end of the year.

Founders Saahil Nayar, Sachin Chadha and Keshav Chadha, Mila Beaut says, “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 shared, “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.”