- Mitra has raised INR 11 Cr ($1.3 Mn) in a Pre-Series A funding round led by Bestvantage Investments.
- The company aims to use the funds to expand its manufacturing units, strengthen its supply chain, and explore European export opportunities.
D2C FMCG startup Mitra has raised INR 11 Cr ($1.3 Mn) in its Pre-Series A funding round, led by Bestvantage Investments, with additional participation from a Dubai-based strategic family office. The company plans to use the fresh funds to drive expansion, starting with its newly established manufacturing units in Mathura and Gurugram.
The capital will also help strengthen Mitra’s supply chain, explore export opportunities in European markets, and participate in government tenders, including NAFED and Bharat Aata. Founded in 2022 by Abhishek Kaushik, Mitra produces essential goods such as flour, pulses, rice, and spices at affordable prices. The company boasts a network of over 300 distributors and 15,000+ retailers, with operations across 14 key locations in India.
In addition to targeting Tier 2 and Tier 3 cities, where access to affordable, high-quality products is limited, Mitra is aiming for significant sales growth. The company posted INR 14 Cr in sales in its first year and is now eyeing INR 35 Cr for the current financial year, marking a 3.5x growth.
Kaushik said, “We are now eyeing to increase the production capacity with new categories and international growth along with the domestic market. We are grateful to our investors for their confidence and support as we embark on this exciting growth trajectory.”
The D2C market in India is booming, with over 190 Mn digital shoppers, making it the third-largest online shopping base globally. This funding round follows a series of investments in the D2C space, such as agritech startup Two Brothers Organic Farms and baby food brand Bebe Burp.
Edited by Harshajit Sarmah
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