D2C Startup Mitra has recently raised a seed funding round of INR 1.5 crore, which was led by Bestvantage Investments.
The company plans to utilize the funds to set up a manufacturing unit to enhance its products and services, expand its product portfolio, and increase the number of stock-keeping units (SKUs) in its existing brand portfolio. This expansion will enable Mitra to cater to a wider range of consumers with their affordable and healthy products.
Mitra is a direct-to-consumer startup operating in the fast-moving consumer goods (FMCG) sector in India. The company was launched in 2022 with the mission to provide high-quality, healthy and affordable products to consumers across the country. Mitra sells a wide range of products across various categories such as flour, pulses, spices, dry fruits, nuts, rice, instant mixes, millet-based, and ready-to-eat.
The company claims to source product ingredients directly from farmers across the country, which not only supports local farmers but also ensures the quality and freshness of the products.
Abhishek Kaushik, Founder, Mitra, said, “We are thrilled about the prospects of the funding round. We plan to utilise the accumulated funds to establish our manufacturing unit which would substantially enhance the quality of our products.”
Raman Sharma, Founder, Bestvantage Investments said, “Incepted in 2022, MITRA has achieved numerous commercial milestones and has established itself as an efficient FMCG brand.”
Mitra is headquartered in Gurugram, India, and aims to capitalize on the evolving paradigm of consumer goods brands in India. The company believes that there is vast potential for brands like Mitra to thrive in the nation, where consumers are increasingly looking for high-quality, healthy and affordable products.
Mitra’s direct-to-consumer model allows the company to cut out middlemen and offer products at lower prices than traditional retailers. With its mission to provide healthy and affordable products to Indian consumers, Mitra is well-positioned to capture a significant share of the Indian FMCG market.
