Mitra Secures Rs 11 Cr in Pre-Series A Funding, Eyes Expansion and Export Growth

Date:

FMCG direct-to-consumer startup Mitra has raised Rs 11 crore in its pre-Series A funding round, led by Bestvantage Investments. A notable participant in this round was a Dubai-based strategic family office, headed by Mr. Surya, which contributed Rs 5 crore to the funding. Other key investors include Arjun Vaidya, founder of V3 Ventures and ex-Dr. Vaidya, along with Ashok, Ajay Kumar, ex-COO of Pizza Hut, and Shatrughan, all of whom were supported by strategic mentors like Mahesh from Hyderabad.

This funding will enable Mitra to strengthen its supply chain, target export opportunities in European markets, and participate in strategic government tenders, such as those from NAFED and Bharat Aata. Expansion is also a priority, with Mitra planning to scale operations at its recently established manufacturing units in Mathura and Gurugram, which span over 40,000 square feet.

Founded in 2022, Mitra specializes in food products, particularly flour and oil. The company’s manufacturing facility can produce over 800 tons of flour and 3 lakh litres of oil per month. Despite being only a year old, Mitra achieved Rs 14 crore in sales during its first year and has built an extensive distribution network, with over 300 distributors and 15,000 retailers across 14 key locations.

This new funding marks a key milestone in Mitra’s journey as it continues to build its market presence and explore further growth opportunities both domestically and internationally.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

HR leaders ready to shape India’s future workforce – XLRI and Leadup Universe seminar in Pune

Mumbai, 06th November: The increasing global demand for up-skilled HR Leaders...

How to use Cold Prospecting to Generate More Leads

Sales prospecting can be daunting, requiring organizations to discover...

5 Tips to Improve Your Chances of a Successful Personal Injury Case

Accidents are pretty common in New Orleans, especially during...

Viraa Care Secures $108K in Pre-Seed Funding to Expand Global Reach and Nutrition Courses

Chandigarh-based health-tech platform Viraa Care has successfully raised $108,000...