News Post

Mitra bags Rs 11 Cr in pre-Series A round led by Bestvantage Investments

Entrackr · 1m

FMCG direct-to-consumer startup Mitra has raised Rs 11 crore in its pre-Series A round led by Bestvantage Investments, with participation from a Dubai-based strategic family office headed by Mr. Surya, who contributed Rs 5 crore. This round also saw investment from strategic investors such as Arjun Vaidya ( founder-V3 Ventures & ex-Dr Vaidya), Ashok, Ajay Kumar, ex-COO of Pizza Hut, and Shatrughan supported by strategic mentors and advisors such as Mahesh from Hyderabad. The proceeds will enable Mitra to strengthen its supply chain further, explore export opportunities in European markets, and participate in strategic government tenders, including NAFED and Bharat Aata. It will also focus on expansion starting with its newly established manufacturing unit in Mathura and Gurugram, spanning over 40,000 square feet. Founded in 2022, Mitra focuses on producing a wide range of food products, including flour and oil, through its manufacturing facilities. With the capacity to produce more than 800 tons of flour and 3 lakh ltr of oil each month, this facility marks a significant milestone for the company just a year after its inception. In its first year, Mitra posted Rs 14 crore in sales and the company claims to have built a distribution network of over 300 distributors and over 15,000 retailers, with operations across 14 key locations.