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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Held from October 13th to 17th as a flagship initiative during GITEX Global Week, the event brought together industry leaders, global investors, and innovative startups to indulge in thought-provoking discussions on the entrepreneurship and investing landscape in India and the UAE. Under Encubay’s mission of “Scale, Raise, Go Global,” Encubay, alongside lead catalyst Rukam Capital, delivered an empowering agenda of industry panels, exclusive networking events, and pitch showcases, strategically designed to strengthen cross-border growth for women founders.

Under Encubay’s mission of “Scale, Raise, Go Global,” Encubay, alongside lead catalyst Rukam Capital, delivered an empowering agenda of industry panels, exclusive networking events, and pitch showcases, strategically designed to strengthen cross-border growth for women founders.

Avneet Kohli, Founder of Encubay, highlighted the growth potential this initiative provides: “Our Encubay ecosystem enables female founders to navigate entrepreneurial challenges, providing them with the knowledge, networks, and capital to make meaningful strides in the global market.”

Deeksha Ahuja, Founder of Encubay stated that “EGIW24′ represents the future of global entrepreneurship. By equipping these founders with a trusted soft landing partner simplifying market entry with connections and insights, Encubay empowers attendees to turn their global ambitions into reality and expand their impact across borders.”

Archana Jahagirdar, one of the few women and visionaries among female VCs, not only backed Encubay’s mission but emphasized the importance of connecting UAE investors to alternate opportunities for startup investments reinforcing Rukam Capital’s expertise in expanding global funding opportunities. “This Immersion Week exemplifies an opportunity for investors to explore startups as an asset class and expand their wealth with trusted partners. At Rukam Capital, we see tremendous potential in bridging markets” said Archana Jahagirdar, Founder and Managing Partner of Rukam Capital.

Encubay Global Immersion Week 2024 marks a milestone in cross-border opportunities between the UAE and India. Key sessions like the Soar Up Pitch Showcase and Investor Mixer at DIFC’s Capital Club allowed five high potential startups to showcase their ventures before global investors. The evening was a growth springboard that showcased the relentless potential of women entrepreneurs in India and the UAE. The high-caliber networking opportunities offered founders a supportive platform to present their innovations, refine their pitch strategies, and secure strategic partnerships within the MENA region.

Encubay and Rukam Capital continue to strengthen their partnership and join forces to build meaningful opportunities for founders and investors to leverage innovation, diversity, and female empowerment in the global entrepreneurial landscape.

Alongside Rukam Capital, Tanishq championed the initiative by gifting exclusive jewelry, vouchers, and season-special Diwali gifts to attendees, reinforcing the spirit of wealth and success among women entrepreneurs.

Aditya Singh, International Business Head at Titan: “Our mission at Tanishq extends beyond creating beautiful jewelry—we believe in celebrating the ambition of women worldwide. Supporting Encubay Global Immersion Week aligns with our commitment to women’s empowerment, not just in financial growth but in recognizing their true potential. By gifting jewelry and offering exclusive vouchers, we hope to inspire women to celebrate their successes and support conversations around women and wealth through platforms like Encubay.”

Paawan Arora, Senior Manager Partnerships, Tanishq Middle East: “Encubay Global Immersion Week is a testament to the power of conversations around women and wealth in the entrepreneurship landscape. Tanishq is honored to contribute to such an initiative that emphasizes women’s growth in entrepreneurship and investing. Our support reflects our dedication to encouraging women to pursue their dreams, build wealth, and make a mark on the world. We are thrilled to stand with Encubay in fostering a network where women entrepreneurs can flourish.”

The Immersion Week was a resounding success, yielding significant takeaways such as strengthened networks, enhanced business strategies, and a renewed sense of purpose among female founders. Encubay is committed to supporting women-led startups in the UAE by opening doors for women who share that fiery passion and unwavering courage, helping them become the stars in their own eyes and inspiring others to believe in them too.

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