FMCG startup Mitra raises Rs 14 crore in funding to expand business

Mitra, a Delhi-based fast-moving consumer goods (FMCG) startup, has raised Rs 14 crore ($1.6 million) in a bridge funding round led by Bestvantage Investments, with participation from existing investors, including a Dubai-based family office.

Advertisment

The startup will use the fresh capital to scale up operations, expand its product portfolio, strengthen distribution across India, and enter the Gulf Cooperation Council (GCC) markets. As part of this push, Mitra is set to inaugurate a 3,000-tonne refined flour manufacturing plant in October.

“This funding is a key pillar in Mitra’s journey as we prepare for our next phase of growth. It will enable us to expand production capacity, launch new health-oriented product lines, and strengthen our presence across India and international markets,” said Abhishek Kaushik, founder and CEO of Mitra.

“Our vision is to make Mitra one of the top 5 FMCG companies in India within the next 2–3 years, with a clear roadmap towards an IPO.”

The startup, launched in 2023, has positioned itself in tier II and tier III cities by offering premium-quality flour under its “Chakki Fresh” methodology, a stone-grinding process designed to retain nutritional value and freshness, while keeping prices accessible.

Mitra claims that its revenue has climbed from Rs 11 crore in FY24 to Rs 40 crore in FY25, with expectations to cross Rs 120 crore this year. Its distribution network currently spans over 500 distributors and 40,000 retail touchpoints. The upcoming flour plant is expected to raise monthly recurring revenue from Rs 12 crore to Rs 17 crore by November 2025. The startup is already EBITDA positive.

Mitra has raised nearly Rs 25 crore to date and is preparing a Series A round in April 2026 at a targeted valuation of Rs 500 crore.

Raman Sharma, Founder & CEO of Bestvantage Investments, said: “We are delighted to back Mitra in this bridge round. The FMCG sector in India is poised for significant disruption, and Mitra’s ability to blend traditional food preparation methods with modern quality standards makes it a brand with immense potential. Their growth trajectory speaks volumes of the scalability and demand for their products.”