Mitra, an FMCG startup, has raised INR 14 crore ($1.6 million) in a bridge funding round led by Bestvantage Investments.
The round also included support from existing investors, such as a Dubai-based family office and other well-known investors.
The funds will be used to set up a new 3,000-ton refined flour (maida) plant in October and to expand into millet-based and healthy products such as gluten-free, sugar-free, and diabetic-friendly flours, along with organic spices.
Mitra also plans to use smart manufacturing technology to improve efficiency and increase production.
Mitra was founded in 2023 by Abhishek Kaushik and is known for its special stone-grinding method (‘Chakki Fresh’), which helps keep flour fresh and full of nutrients.
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The company mainly serves tier II and III cities, offering high-quality products at affordable mid-range prices. This approach has built strong customer trust, with a 92% repeat purchase rate.
Mitra’s revenue has grown rapidly from INR 11 crore in FY24 to INR 40 crore in FY25, and the company expects it to cross INR 120 crore this year.
With the launch of its new plant, monthly recurring revenue is projected to rise from INR 12 crore to INR 17 crore by November 2025. The company is already EBITDA positive, showing strong financial health.
Mitra is planning to raise its Series A round in April 2026 aiming for an INR 500 crore valuation. The company wants to use this funding to grow its manufacturing capacity, launch more products, and enter new markets.
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