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.
