Delhi-based FMCG startup Mitra has raised Rs 14 crore (about $1.6 million) in a recent bridge equity funding round. The round was led by Bestvantage Investments, a boutique investment advisory firm, with participation from existing investors, including a Dubai-based family office. This fresh capital will support expansion plans, including the launch of a new manufacturing plant and the growth of its product portfolio.
Expansion Plans and New Manufacturing Plant
Mitra is set to inaugurate a 3,000-tonne refined flour (maida) manufacturing plant by October 2025. This new facility will boost production capacity, allowing the company to meet growing market demand. Alongside flour, Mitra plans to expand into millet-based and lifestyle-focused products. These include gluten-free, sugar-free, diabetic-friendly flours, and organic spices. The company also aims to strengthen its distribution network across India and enter Gulf Cooperation Council (GCC) markets, tapping into international opportunities.
Focus on Quality with ‘Chakki Fresh’
Mitra has built its brand on a traditional stone-grinding method called ‘Chakki Fresh’. This unique technique preserves the natural nutrition and freshness of the flour, setting the brand apart in the competitive FMCG market. The company targets tier II and tier III cities, offering premium-quality products at affordable prices. This strategy has earned strong customer loyalty, with a 92% repeat purchase rate over two years of operations.
Rapid Growth and Financial Highlights
Since its founding in 2023, Mitra has seen impressive growth. Revenue surged from Rs 11 crore in FY24 to Rs 40 crore in FY25. The company expects to cross Rs 120 crore in revenue by the end of FY26. The new flour plant alone is projected to increase monthly recurring revenue from Rs 12 crore to Rs 17 crore by November 2025. Mitra is already EBITDA positive, showcasing healthy operational performance.
Vision Ahead: Series A and IPO Roadmap
Mitra is preparing for a Series A funding round planned for April 2026. The startup aims for a valuation of Rs 500 crore in this round. Founder and CEO Abhishek Kaushik shared the company’s ambition to become one of India’s top 5 FMCG players in the next 2–3 years. Mitra’s roadmap also includes a clear path to an initial public offering (IPO) as it scales manufacturing, product lines, and its geographic presence.
Industry Recognition and Investor Confidence
Raman Sharma, Founder and CEO of Bestvantage Investments, highlighted Mitra’s ability to blend traditional food preparation with modern quality standards. He noted that the Indian FMCG sector is ripe for disruption, and Mitra’s strong growth trajectory and scalable model make it a highly promising startup to watch.
Mitra’s success reflects growing consumer demand for healthier, premium food products in smaller towns and cities. The company’s focus on quality, innovation, and market expansion positions it well for a bright future in India’s FMCG landscape.