Source: Entrackr
New Delhi, August 21, 2025 – FMCG startup Mitra has secured ₹14 crore ($1.6 million) in a bridge round of equity funding from a round led by Bestvantage Investments and with participation from its current investors, a Dubai-based family office, and other marquee investors.
Utilization and raising of capital
The company will use the new equity to build a 3,000-ton refined flour (maida) facility, which is planned to be operational by October 2025. This plant will allow Mitra to grow its capacity and satisfy the market demand for the company’s products.
In addition to this, Mitra will also be entering additional lifestyle and health-focused categories. These include millet-based products, gluten-free flours, sugar-free options, diabetic-friendly flours, and organic spices. The Company is also looking to expand its footprint in Gulf Cooperation Council (GCC) countries to access international markets.
In an effort to improve efficiency, Mitra plans to harness smart manufacturing technology. This means the company will be able to modernise its production line, decrease expenses, and increase output.
Brand positioning
Mitra, founded in 2023, has differentiated itself in the FMCG market with its traditional stone-grinding method, ‘Chakki Fresh’. The method used is well-known for preserving the nutrition and freshness of flour, which has now become the startup’s main selling point. The company has concentrated on tier II and tier III markets, focusing on quality products at fair prices. This has helped Mitra build strong customer trust and loyalty, with a 92% repurchase rate after 2 years of operations.
Financial Growth
Mitra claims that it has been able to grow quickly in a relatively short amount of time. The revenue grew from ₹11 crore in FY24 to ₹40 crore in FY25. The company is confident it will exceed ₹120 crore in FY26.
The new flour plant is expected to help maximize Mitra’s monthly recurring revenue from ₹12 crore to ₹17 crore by November 2025. The company has also already become EBITDA positive, which is notable for its ability to grow while maintaining a profitable operational integrity.
Financial growth
Mitra states they have scaled rapidly in a short duration. Revenues increased from ₹11 crore in FY24 to ₹40 crore in FY25. The company is confident it will cross ₹120 crore in FY26.
The flour plant coming online is expected to take Mitra’s monthly recurring revenue from ₹12 crore to ₹17 crore by November 2025. It’s important to note that the company has already reached EBITDA positive, which shows that it can profitably manage operations while scaling.
Future perspective
In the future, Mitra is planning to raise a Series A round in April 2026 at a valuation of ₹500 crore. The Series A round will support Mitra to enhance its manufacturing facilities, get new product lines established, and establish its footprint in Indian and overseas markets.
With a strong backing from investors, growing product portfolios, and a focus on health categories, Mitra is looking to be a dominant player in India’s fast-growing FMCG sector.
