Funding of Rs 14 crore obtained by consumer goods startup Mitra for business expansion
In an exciting development for the Indian FMCG sector, Mitra, a Delhi-based startup founded in 2023, has raised Rs 14 crore ($1.6 million) in a bridge funding round. This round was led by Bestvantage Investments, with existing investors, including a Dubai-based family office, also participating.
The founder and CEO of Mitra, Vaibhav Aggarwal, stated that this funding is a key pillar in Mitra's journey for growth. With this infusion of capital, Mitra aims to scale up operations, expand its product portfolio, strengthen distribution across India, and venture into the Gulf Cooperation Council (GCC) markets.
Mitra, which offers premium-quality flour under its "Chakki Fresh" methodology, has already made significant strides in the market. The startup's revenue increased from Rs 11 crore in FY24 to Rs 40 crore in FY25, with expectations to cross Rs 120 crore this year.
The company's distribution network spans over 500 distributors and 40,000 retail touchpoints, positioning Mitra in tier II and tier III cities. This strategic placement has been instrumental in the startup's success, as it caters to a vast and untapped market.
Mitra is set to inaugurate a 3,000-tonne refined flour manufacturing plant in October, which is expected to boost the company's monthly recurring revenue from Rs 12 crore to Rs 17 crore by November 2025. This expansion will undoubtedly bolster Mitra's position in the FMCG market.
Raman Sharma, Founder & CEO of Bestvantage Investments, expressed delight in backing Mitra in the bridge round. He spoke highly of the startup's potential, stating, "Mitra has a clear roadmap towards an Initial Public Offering (IPO), and we are excited to be part of their journey."
With a clear vision to become one of the top 5 FMCG companies in India within the next 2-3 years, Mitra is preparing for a Series A round in April 2026 at a targeted valuation of Rs 500 crore. This ambitious goal is a testament to the startup's rapid growth and success in the FMCG sector.
Abhishek Kaushik, the founder and CEO of Mitra, remains optimistic about the future. He stated, "This funding round is a significant step towards our goal of making Mitra one of the top FMCG companies in India. We are committed to providing high-quality products and services to our customers and look forward to serving more cities and markets in the coming years."
Mitra's "Chakki Fresh" methodology, which ensures the production of premium-quality flour, sets it apart in the competitive FMCG market. As the startup continues to grow and expand, it is poised to make a significant impact in the Indian FMCG sector.
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