Mitra, an FMCG direct-to-consumer startup, has raised Rs 11 crore in its pre-Series A funding round led by Bestvantage Investments.
The round saw participation from a Dubai-based strategic family office, headed by Mr Surya, who contributed ₹5 crores to the round.
The funding round also included Ah! Ventures, Soonicorn Ventures, Beej Network, Planify, 1000 Unicorns, and individual investors like Arjun Vaidya, Ashok, and Ajay Kumar, ex-COO of Pizza Hut, along with support from strategic mentors and advisors such as Mahesh from Hyderabad.
The funds will be used to strengthen the supply chain further, explore export opportunities in European markets, and participate in strategic government tenders, including NAFED and Bharat Aata.
Founded in 2022 by Abhishek Kaushik, Mitra is a consumer brand that produces essential goods such as flour, pulses, rice and spices at affordable prices, through its manufacturing facilities.
The funds will be used for the startup’s plans for expansion, starting with its newly established manufacturing unit in Mathura and Gurgaon, spanning over 40,000 square feet.
With the capacity to produce more than 800 tons of flour and 3 lakh ltr of oil each month, this facility marks a significant milestone for the company just a year after its inception.
Abhishek Kaushik, Founder of Mitra, said, “The strategic investment of the Dubai-based family office signals a turning point for us, not only in expanding overseas markets but also helping us in the next leap of growth.”
Kaushik added, “We are now eyeing to increase the production capacity with new categories and international growth along with the domestic market. We are grateful to our investors for their confidence and support as we embark on this exciting growth trajectory.”
In its first year, Mitra posted sales of ₹14 crore and developed a distribution network of over 300 distributors and 15,000 retailers across 14 key locations, setting the stage for its next phase of growth.
The company aims to triple its sales by targeting over ₹35 crore in the current financial year, representing a 3.5 times growth year-over-year.
