The freshly infused capital will primarily be deployed towards expansion and research & development. Mila Beauté aims to strengthen its core business in the color cosmetics segment while also investing in new product development, scaling operations, and deepening its market presence. A significant portion of the funds will go into upgrading its manufacturing capabilities, focusing on maintaining high product quality with minimal external dependencies.

Founded with a vision to create a truly Indian beauty brand, Mila Beauté has taken a distinctive approach by keeping its operations vertically integrated and minimising reliance on imports. This has not only ensured superior control over product quality but also aligned well with the ‘Make in India’ initiative.

Founders Saahil Nayar, Sachin Chadha and Keshav Chadha, Mila Beauté, said, “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 Rukam Capital said, “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.” 

Currently clocking annual revenues of $7.23 million, Mila Beauté is targeting a 2x growth in the next 12–18 months. The team remains focused on operational excellence and brand building without any immediate plans for acquisitions or leadership changes. With this funding, Mila Beauté is well-positioned to accelerate its expansion and continue developing high-quality, innovative Indian skin friendly color cosmetic products for the Indian market.

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Cardiotrack delivers the most comprehensive at-home pathology and radiology screening services, in 300+ locations through its strong pan-India network of diagnostic centers, technicians and phlebotomists equipped with its technology, to provide the best in the industry geographical coverage and turn-around time to its health and life insurance customers. A standout feature of Cardiotrack’s unique screening technologies is the equivalent of a treadmill test, being conducted in the comfort of one’s home along with video-based recorded medical examinations.

Its state-of-the-art medical and IOT grade diagnostics devices, workflow automation and health data digitisation solutions empower health & life insurance providers to offer seamless onboarding experiences while enabling their customers to take control of their health. Cardiotrack provides insights into the health of consumers like never before. Currently, it serves nine health and life insurance companies, including most of the largest insurers in India.

Commenting on the funding, Avin Agarwal, Founder & CEO, Cardiotrack, said, “We are thrilled to have secured this investment as we continue to innovate and expand our reach in our mission to drive positive change in the healthcare industry. Our revolutionary approach to healthcare screening not only enhances convenience for consumers but also enables health and life insurance providers to offer fast, comprehensive and personalised services, besides increased operational efficiency and improving our healthcare data analytics capabilities for faster and more accurate insurance underwriting. The investment further validates the venture’s direction and the immense value it brings in improving the healthcare experience for both providers and consumers.”

In his remarks, Girish Narasimhan, seasoned angel investor and member of the board of Cardiotrack, said, “Avin and the team are deeply committed to their mission to revolutionise healthcare screening. They also have a strong market validation by having many leading life & health insurance providers as their clients. We strongly believe the venture will rightfully cement its place among start-ups that are reshaping the future of healthcare. We thank the existing Investors of Cardiotrack for giving us the opportunity to participate in this round and are excited to partner with them at this critical juncture of growth.”

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Since launching in 2022, Raha has quickly grown to become a multi-sector technology and automation provider offering a wide range of specialized solutions. The company’s first successful project in the Kuwaiti market was ShopRaha; the fully automated e-grocery platform that was the region’s first pure-play service. Setting a new benchmark in the grocery retail sector, ShopRaha features Kuwait’s first fully automated robotics-fulfillment center, as well as the first chilled automated warehouse globally.

Following this successful proof of concept, Raha has utilized its recent funding to broaden its industry presence, particularly in the KSA and UAE markets

Saleh Al-Tunaib, Co-Founder and CEO of Raha, articulated the company’s mission and strategy moving forward, saying: “Raha was envisioned as a company that uses technology and robotics to disrupt traditional models and redefine e-commerce. We’ve integrated advanced technology with our logistics expertise to elevate the e-commerce experience, from first to last mile. Today, our model is demonstrating its scalability and longevity, as we continue to expand our focus beyond our own e-commerce retail ventures to cement our role within the scope of the wider industry. This is proving especially effective in our recent expansions into both Saudi Arabia and the UAE.”

Al-Tunaib further emphasized the importance of an integrated approach for e-commerce success. “Investing in digital infrastructure is a crucial component for operational excellence in this day and age. As we expand, our focus remains on ensuring a smooth, efficient transition of both the customer experience and operational capabilities to the online domain.”

On his part, Jerry Li, Founder and Managing Partner of eWTP Arabia Capital said: “One of our core goals has always been to accelerate the growth of digital eco-systems in MENA. As the companies we invest in develop their business in Saudi Arabia, they acquire the know-how necessary to replicate their business model throughout the entire MENA region and expand methodically into other markets. Raha’s solution can perfectly help aspiring companies make a soft landing, navigating the challenges that face them in their growth and expansion journeys. Based on the management’s rich local experience, we are very optimistic that more Chinese companies will contribute to the development of the MENA markets through solution partners like Raha.”

Additionally, Mohammed Razzouqi, Partner at Soor Capital, noted that: “With Raha’s tangible success and a new round of investment, they will be well positioned to play a larger role in shaping the region’s automation and robotics industries as both a consultant and service provider.”

A true homegrown success story, Raha has made a name for itself in the region as a start-up to watch. Starting off with a small core team of four people, Raha now houses a dynamic team of more than 166 people across its various verticals, ShopRaha, btr.tech and Smooth Logistics.

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The new round was co-led by numerous MENA-focused private investors, entrepreneurs and syndicates. Notable investors include Fedor Ovchinnikov, founder of Dodo Brands; Regolith, ecosystem for financial and investment instruments, and others.

The funds will be used to refine the IT platform for order aggregation and expand the network of partner marketplaces, with plans to accelerate the company’s expansion into Saudi Arabia and Qatar in the near future. These are both fast-growing markets with a flourishing fintech sector, economic stability, young and tech-savvy populations, impressive levels of internet penetration up to 99.0 percent and a drive toward digitalization.

YallaHub has already introduced over 80 small, medium and enterprise brands to the UAE market, including the global health food brand Vkusvill. The marketplace aggregator provides its customers a single entry point to the GCC market and is equipped to handle omnichannel sales simultaneously, including 8+ aggregators and marketplaces (Noon, Careem, Amazon, Deliveroo, NowNow), e-commerce platforms and the merchant’s own sales channels powered by YallaWeb and Shopify.

YallaHub is MENA’s first B2B2C e-commerce aggregator, integrating all market parties into a single, scalable tech platform. With a monthly membership subscription it provides an extensive array of products designed to dismantle any scalability hurdles facing e-commerce businesses. YallaHub enables brands to boost online sales and provides a one-window solution offering registration and licensing services, export and import assistance, storage and fulfillment, super-fast delivery within 15-90 minutes, marketing tools, e-commerce setup and payment gateway rental.

The startup was founded in 2021 by Leo Dovbenko and Stas Seleznev; both have extensive backgrounds in food tech.

Leo Dovbenko, CEO and co-founder of YallaHub, revealed the company’s transformation: “Initially focused on our B2C business, YallaMarket, we received requests from 500 companies to help them enter the GCC region. Recognizing the untapped potential, we created the B2B2C e-commerce single-window solution, YallaHub.”

Dovbenko continued by highlighting the evolution of their business model: “After conducting extensive tests with sellers, we confirmed that our new approach was effective. Currently, we offer a premium delivery service through YallaMarket alongside our marketplace aggregator, YallaHub. Our mission is to empower all entrepreneurs to grow quickly in the GCC e-commerce scene, covering the region with reliable and convenient less than 90-minute delivery.”

YallaHub currently has 120 employees in Dubai, UAE and is hiring an on-ground team in Riyadh.

“It seemed only natural to use our quick commerce expertise and technologies to help brands enter and scale in the fast-growing GCC market, all the while providing seamless customer service. This is an utterly new approach in the B2B e-commerce industry; no one offers a turnkey solution to enter the UAE market in just 2 weeks the way we do,” comments Stas Seleznev, CPO and co-founder of YallaHub.

“We’re confident in YallaHub’s innovative approach to B2B e-commerce in the region. With these newfound resources, YallaHub is poised to accelerate its growth trajectory and unlock new possibilities for businesses operating in the GCC and beyond”, commented Den Kerzheman, CEO of Regolith. “Additionally, we identified the management team’s extraordinary vision to transform a high-touch business by seamlessly infusing proprietary tech while increasing product depth for any size customer. We are thrilled to be part of the YallaHub success story”.

The platform charges businesses a monthly subscription fee, an onboarding fee and a commission for managing brand sales and promotions.

In 2023, the startup is expanding into Saudi Arabia and Qatar, attracting over 100 brands and reaching $10M in annual recurring revenue (ARR). In 2024, YallaHub plans to enter three other GCC countries; Oman, Kuwait and Bahrain.

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Alaan’s platform allows businesses to instantly issue physical and virtual cards for managing all their business expenses, including e-commerce transactions, SaaS subscriptions, vendor payments, government services, or in-store purchases. These cards can be set up with daily or monthly spend limits and can also be locked to be used only with specific merchants such as fuel stations. The platform eliminates the need for expense reports and petty cash, and automates bookkeeping tasks via seamless integration with leading accounting solution providers such as Xero, QuickBooks and Microsoft Dynamics. 

Commenting on the latest investment round, Parthi Duraisamy, CEO and Co-Founder of Alaan said, “Our team has grown rapidly since we founded Alaan. Since the last financing round, not only have we launched and expanded quickly but we have also been able to introduce remarkable product innovations, including AI-powered workflow automation for managing spend and seamless accounting sync. Our cashback card offers a unique benefit in the Middle East corporate card and spend management space. With the new funds, we are excited to further enhance our offering and expand our reach in new markets as we continue to help businesses improve their efficiency, productivity, and employee experience through Alaan.” 

Jad Halaoui, Co-Founder of Washmen and a client of Alaan chose to participate in this investment round after utilising the platform for a few months. He said, “Alaan has shaved off hours from team members in operations, accounting, finance and even marketing. It has transformed the way money flows and is controlled at Washmen. Their product shows they have a deep understanding of what companies need to streamline their finances and governance with simplicity. I strongly believe in the team and their ability to help other businesses like ours experience the same benefits.” 

Fabian Hansen, Co-Founder and General Partner of Presight Capital said, “We have always been a big believer of Alaan’s mission, and we invested in their seed round last year. The impressive traction that Alaan has achieved within the first three months of launch has only served to reinforce our conviction. Hence, we chose to double down on our investment to support their expansion in the Middle East.” 

Founded by ex-McKinsey employees Parthi Duraisamy and Karun Kurien, Alaan has seen stellar growth since its launch in August 2022. Currently, more than 100 businesses in the UAE with a combined total of over 5000 employees are benefitting from Alaan’s platform. Alaan crossed double-digit millions in payment volume within three months of its launch and averaged a monthly growth of 500% in 2022. It is now doubling down on its UAE growth and is planning to use the new funds for expansion across the GCC. Alongside international growth, Alaan plans to enhance its product, with new features including automated invoice payments to domestic and international suppliers. 

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Getbee will leverage this round of funding to accelerate its market adoption with leading retail brands. “The trillion-dollar e-commerce and retail industries need to find new ways to connect, engage, and convert their customers, while consumers are looking for a different kind of shopping experience that is both virtual and more personalized,” said Gaith Yafi, Founder and Managing Partner of B & Y Venture Partners. “With Getbee, we are backing a high caliber team, led by an exceptional and passionate founder, that is ideally positioned to capitalize on these growing trends.”

“Throughout history, commerce has always been about people buying from people. With Getbee, we are bringing back this experience to the digital era. Our vision is to transform the way billions of people buy and sell online.” explains Getbee’s founder and CEO, Thea Myhrvold.

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Skylark Drones, with offices in the USA and India aims to elevate worksite productivity and safety by providing geospatial intelligence to different enterprises in sectors such as mining, solar power, real estate, agriculture and inspection. It provides its clients with the ability to use AI powered technology products such as Spectra and Drone Mission Ops.

Skylark Drones offers end-to-end solutions with Spectra enabling worksite intelligence and several platform integrations and API access. Drone Mission Ops enables project and fleet management for large enterprises and individual operators to effectively plan and execute drone missions. It also offers Dronepass, a device to enable drone manufacturers to comply with local airspace regulations. These solutions allow customers to tap into the advantages of drone data analytics and use it to plan better, construct faster, and operate in a safer way.

“Our vision is to unlock the economic potential of aerial intelligence.” said Mughilan Thiru Ramasamy, CEO & co-founder of Skylark Drones. “We thank the lead investors of this round and believe the participation of Fowler Westrup, a leading agriculture solution company, and Vimson Group mining conglomerate will help further strengthen the sector focussed solutions we offer our customers. ”

The company will primarily use the new funding to enhance the actionable insights from drone data that it provides, in order to aid and simplify superior business decisions and strategy for its clients. The investment will also be used to spur international product expansion and development of its drone data analytics products.

“Drones are becoming the norm for remote worksite monitoring & inspections, and we have seen rapid adoption from marquee enterprises like Tata Steel, Ultratech Cement, Softbank Energy over the past few years. We look forward to serving more enterprises in the next leg of our growth story.”, said Mrinal Pai, co-founder of Skylark Drones. Since its founding in 2015, Skylark Drones has pioneered a variety of technological advances for the drone software industry. The company leverages drone data and transforms petabytes of aerial information into actionable business insights for clients to help them work more efficiently.

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