FMCG Startup Mitra Raises ₹14 Crore To Scale And Expand To GCC
Delhi-based fast-moving consumer goods startup, Mitra, has raised ₹14 crore (about $1.6 million) in a bridge round led by Bestvantage Investments and existing investors. A Dubai-based family office also contributed towards this funding. The investment comes at a critical time for the startup, allowing it to scale domestically and explore entering international markets.
A Step Forward Towards Growth and Diversification
Established in 2023 by Abhishek Kaushik, Mitra has quickly established itself as an emerging initiator in the FMCG space, developing flour and staple food product lines. They plan to utilize the funds for:
Grow operations by increasing capacity.
Establish new health-focused product lines to meet growing consumer demand in India for health-conscious alternatives. Develop its distribution infrastructure in tier II and tier III cities.
Foray into Gulf Cooperation Council (GCC) countries, tapping into a large South Asian consumer base.
As part of its expansion strategy, Mitra will also inaugurate a 3,000-tonne refined flour manufacturing plant in October 2025, which is expected to significantly boost production capacity and revenues.
“Our vision is clear — we want to make Mitra one of the top five FMCG companies in India within the next 2–3 years. This bridge round is a crucial enabler for that journey,” said Abhishek Kaushik, Founder and CEO of Mitra. “We are preparing a roadmap not just for growth in India but also for a successful IPO in the medium term.”
Leveraging Traditional Methods with Modern Scale
Mitra differentiates itself by offering flour made through the “Chakki Fresh” methodology, a traditional stone-grinding process that helps retain natural nutrients and freshness. This approach has resonated particularly well in tier II and tier III markets, where consumers value both authenticity and affordability.
By blending traditional preparation techniques with modern quality standards, Mitra has carved out a niche in an otherwise competitive FMCG landscape. Its focus on staples ensures both consistent demand and the ability to scale rapidly.
Remarkable Growth Statistics
Even though it is a fairly new participant in the market, Mitra has proven to be quite a financially competent organization:
- Revenue increased from ₹11 crore in FY24 to ₹40 crore in FY25
- The organization has projected revenue for ₹120 crore in FY26.
- The organization also has a network of 500 plus distributors and retail touchpoints of 40,000 across India.
- The new manufacturing plant is expected to contribute to an MRR growth from ₹12 crore up to ₹17 crore in November 2025.
- Importantly, the startup is already EBITDA positive, a rare milestone for early-stage FMCG ventures.
To date, Mitra has raised nearly ₹25 crore in funding and is preparing for a Series A round in April 2026, with a targeted valuation of ₹500 crore.
Investor confidence in FMCG disruption
Raman Sharma, Founder & CEO of Bestvantage Investments and investor in this round, commented on the potential of the brand Mitra:
“We are happy to support Mitra in this phase of growth. The FMCG industry in India has the potential to be substantially disrupted. Mitra’s blend of traditional techniques, and their ability to scale in a sustainable way, set the brand apart from the competition; and their growth thus far and execution signal huge potential.”
The Road Forward
With new funding and expansion plans, Mitra is positioning itself for sustainable growth in India’s wider $110 billion FMCG sector, which is one of the fastest-growing sectors in the Indian economy. Mitra will focus on expanding its presence in smaller towns and cities, where consumer loyalty to staple products continues to be high, take advantage of the GCC market that has significant Indian diaspora markets, and have an anchor outside the domestic market.
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