New Delhi | August 21, 2025 — Deep-tech-backed FMCG startup Mitra has raised ₹14 crore (approx. $1.6M) in a bridge funding round led by Bestvantage Investments, with participation from existing investors including a Dubai-based family office.
How the Funds Will Be Used
The capital will be deployed to launch a 3,000-tonne refined flour (maida) manufacturing plant in October. Mitra is also expanding its product portfolio to include millet-based, gluten-free, sugar-free, diabetic-friendly flours, and organic spices, and enhancing its presence in Gulf Cooperation Council (GCC) markets. The firm is integrating smart manufacturing technologies to improve efficiency and production.
Impressive Growth Trajectory
Founded in 2023, Mitra has built its niche with a unique stone-grinding (“Chakki Fresh”) method aimed at preserving freshness and nutrition. The brand has targeted tier-II and III towns with premium products at mid-range pricing and maintains a 92% repeat purchase rate. Revenues in FY25 surged to ₹40 crore, up from ₹11 crore in FY24, and the company is momentum-bound to cross ₹120 crore this year. The new production facility is projected to raise monthly recurring revenue from ₹12 crore to ₹17 crore by November 2025.
Mitra is preparing for a Series A round in April 2026, targeting a valuation of ₹500 crore as it expands manufacturing, product lines, and geographic reach.
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