Mitra Secures Funding for Expansion in FMCG Sector

Mitra, an innovative FMCG startup, has successfully secured Rs 14 crore ($1.6 million) in a bridge round of equity funding. This funding was led by Bestvantage Investments and included contributions from current investors such as a Dubai-based family office and several notable backers. The raised funds will be allocated towards the establishment of a new 3,000-ton refined flour (maida) plant set to launch in October. Additionally, Mitra aims to venture into millet-based and lifestyle options, including gluten-free, sugar-free, diabetic-friendly flours, and organic spices, while also bolstering its presence in the GCC markets.

Innovative Manufacturing Technology

Mitra plans to incorporate advanced smart manufacturing technology to enhance efficiency and production capabilities. Founded in 2023, the startup has developed its brand utilizing a distinctive stone-grinding technique known as ‘Chakki Fresh’. This process helps to maintain the nutritional integrity and freshness of its products.

Targeting Strategic Markets

The firm has zeroed in on tier II and tier III markets, offering premium-quality products at accessible price points. Mitra has successfully cultivated strong customer loyalty, evidenced by a commendable 92% repeat purchase rate.

Rapid Growth and Future Plans

Mitra reports significant growth, increasing revenue from Rs 11 crore in FY24 to Rs 40 crore in FY25, and is projected to exceed Rs 120 crore this year. With the new plant, the company anticipates boosting its monthly recurring revenue from Rs 12 crore to Rs 17 crore by November 2025, already achieving positive EBITDA.

In preparation for future growth, Mitra is gearing up for a Series A funding round anticipated in April 2026, targeting a valuation of Rs 500 crore as it seeks to expand its manufacturing capabilities, product assortment, and geographical footprint.