Delhi-based FMCG startup Mitra has secured Rs 14 crore in a bridge round led by Bestvantage Investments, with participation from existing investors, including a Dubai-based family office. The fresh infusion takes the company’s total funding to nearly Rs 25 crore since its inception in 2023.
Founder and chief executive Abhishek Kaushik said the company will channel the capital into scaling its operations, expanding its portfolio, and broadening its distribution network across India while also preparing to tap Gulf Cooperation Council markets.
A key milestone in the pipeline is the launch of a new 3,000-tonne refined flour manufacturing facility, scheduled to begin operations in October. Alongside, Mitra is gearing up to roll out a diverse range of new products, including multigrain flour, whole wheat flour, diabetic-friendly flour, sugar-free and gluten-free variants, as well as packaged rice. “Our vision is to position Mitra among the top five FMCG players in India over the next two to three years, with a roadmap towards an IPO,” Kaushik told ET.
Mitra’s growth has been sharp. Revenue jumped from Rs 11 crore in FY24 to Rs 40 crore in FY25, and the company expects to close FY26 with more than Rs 120 crore in sales. Its distribution footprint already spans 500 distributors and 40,000 retail outlets across the country.
The company is also preparing for a Series A funding round in April 2026, where it is targeting a valuation of Rs 500 crore.
Raman Sharma, founder and chief executive of Bestvantage Investments, said Mitra’s proposition lies in marrying traditional food preparation methods with modern quality benchmarks. “The FMCG sector in India is ripe for disruption, and Mitra’s scalability and strong demand curve make it one to watch,” Sharma noted.
