Mitra, a burgeoning direct-to-consumer (D2C) FMCG startup, has successfully raised ₹11 crore in its pre-Series A funding round, spearheaded by Bestvantage Investments. This capital infusion will facilitate the company’s ambitious expansion plans, including the establishment of new manufacturing facilities in Mathura and Gurgaon. With these advancements, Mitra aims to bolster its supply chain and target a tripling of sales to ₹35 crore in the current fiscal year.
In a recent media release, Mitra announced that a Dubai-based strategic family office contributed approximately ₹5 crore to this funding round. Additional support came from notable strategic investors such as Arjun Vaidya, founder of V3 Ventures, along with Ashok Bahadur, Ajay Kumar (former COO of Pizza Hut), and Shatrughan Sharma, all backed by experienced mentors.
According to Mitra’s statement, this funding will play a pivotal role in its growth strategy. The newly established manufacturing units will cover over 40,000 square feet and are expected to enhance production capacity significantly. Mitra is also poised to explore export opportunities in European markets and participate in strategic government tenders, including NAFED and Bharat Aata.
Abhishek Kaushik, founder of Mitra, emphasized the importance of this investment, stating, “The strategic investment from the Dubai-based family office signifies a turning point for us, enabling us to expand into overseas markets while aiding our next growth phase. We are focused on increasing production capacity across new categories, in addition to strengthening our domestic market presence.”
Founded in 2022, Mitra aims to achieve a remarkable threefold growth in sales, projecting revenues to surpass ₹35 crore for the fiscal year. In its inaugural year of operations (2023-24), the startup reported sales of ₹14 crore and established a strong distribution network comprising over 300 distributors and more than 15,000 retailers, operating in 14 key locations.
As Mitra continues to innovate and expand, it stands as a prime example of how D2C FMCG startups can attract significant investments to fuel their growth and redefine the market landscape.
