FMCG startup Mitra has raised ₹14 crore ($1.6 million) in a bridge equity round led by Bestvantage Investments, with participation from existing backers including a Dubai-based family office and other marquee investors.
The fresh capital will support the launch of a 3,000-ton refined flour (maida) plant in October, expansion into millet-based and lifestyle categories such as gluten-free, sugar-free, and diabetic-friendly flours, along with organic spices. Mitra also aims to strengthen its presence in GCC markets and integrate smart manufacturing technology for higher efficiency and scale.
Founded in 2023, Mitra differentiates itself with a stone-grinding methodology (‘Chakki Fresh’) that preserves nutritional value and freshness. The company has focused on tier II and III markets, offering premium-quality products at mid-range pricing, and claims a 92% repeat purchase rate.
The brand has grown from ₹11 crore in revenue in FY24 to ₹40 crore in FY25, and is on track to surpass ₹120 crore in FY26. Its upcoming flour plant is expected to boost monthly recurring revenue from ₹12 crore to ₹17 crore by November 2025, with the firm already EBITDA positive.
Looking ahead, Mitra is preparing for a Series A round in April 2026 at a targeted valuation of ₹500 crore, as it scales its manufacturing, product portfolio, and geographical footprint.
By: Arushi Agarwal
