FMCG startup Mitra raises Rs 14 Cr in bridge round led by Bestvantage

FMCG startup Mitra has raised Rs 14 crore ($1.6 million) in a bridge round of equity funding led by Bestvantage Investments, with participation from existing backers including a Dubai-based family office and other marquee investors.

The proceeds will be used to launch a new 3,000-ton refined flour (maida) plant in October, expand into millet-based and lifestyle categories such as gluten-free, sugar-free, diabetic-friendly flours, and organic spices, while also enhancing its presence in GCC markets. Mitra also plans to integrate smart manufacturing technology to improve efficiency and output.

Founded in 2023, Mitra has built its brand around a unique stone-grinding methodology (‘Chakki Fresh’), which preserves nutritional value and freshness. 

The firm has targeted tier II and tier III markets with premium-quality products at mid-range pricing, achieving strong customer loyalty with a 92% repeat purchase rate.

Mitra claims to have scaled rapidly from Rs 11 crore in revenue in FY24 to Rs 40 crore in FY25, and is on track to cross Rs 120 crore this year. Its upcoming plant is expected to boost monthly recurring revenue from Rs 12 crore to Rs 17 crore by November 2025, with the company already EBITDA positive.

According to Mitra, it is preparing for a Series A round in April 2026 at a targeted valuation of Rs 500 crore as it expands manufacturing, product lines, and geographic reach.