A Dubai-based family office and other well-known investors have joined the FMCG startup Mitra in raising Rs 14 crore ($1.6 million) in a bridge round of equity funding led by Bestvantage Investments.
In addition to expanding into millet-based and lifestyle categories like gluten-free, sugar-free, diabetic-friendly flours, and organic spices, the proceeds will be utilized to increase the company’s visibility in GCC markets and open a new 3,000-ton refined flour (maida) plant in October. In order to increase productivity and efficiency, Mitra also intends to incorporate smart manufacturing technology.
Mitra, which was founded in 2023, has centered its brand on a special stone-grinding process called “Chakki Fresh,” which maintains freshness and nutritional value.
By offering premium-quality products at mid-range prices to tier II and tier III markets, the company has achieved strong customer loyalty and a 92% repeat purchase rate.
According to Mitra, its revenue increased quickly from Rs 11 crore in FY24 to Rs 40 crore in FY25, and it is expected to surpass Rs 120 crore this year. By November 2025, the company’s upcoming plant is anticipated to increase monthly recurring revenue from Rs 12 crore to Rs 17 crore, with an already positive EBITDA.
Mitra claims that as it grows its product lines, manufacturing, and geographic reach, it is getting ready for a Series A round in April 2026 at a targeted valuation of Rs 500 crore.
