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Mila, backed by Electrolux, raises USD 52M at a valuation of USD 52M to add intelligence to fresh air

By ET Bureau - December 26, 2022 1 Mins Read


Mila, the San Francisco-based company, has announced it closed a USD 10 million Series A. The company’s seed round was led by Electrolux.

According to Mila, it was Electrolux’s initial seed investment. The former venture arm of the late Paul Allen’s investment company, Cercano Management, and “an undisclosed global consumer goods brand” led Mila’s USD 10 million Series A round. The business claims it will use the funds to hire new staff, scale operations, broaden its product line, and work toward its ultimate objective of satisfying the world’s demand for better indoor air quality. According to the company, it raised its USD 10 million round in an all-equity deal with a post-money valuation of USD 52 million.

Also Read: Strategies to Streamline End-to-End Supply Chain

According to the company, the new valuation is a 3x value increase from its seed round the year before.

Read More: Backed by Electrolux, Mila raises at a $52M valuation to add smarts to fresh air

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