Gurugram-based direct-to-consumer (D2C) FMCG startup Mitra has secured INR 11 Cr ($1.3 Mn) in its Pre-Series A funding round, led by Bestvantage Investments, alongside participation from a strategic family office based in Dubai.
The funds will be used to fuel Mitra’s expansion plans, with a focus on strengthening its newly established manufacturing units in Mathura and Gurugram. In addition, the company plans to deploy the capital to bolster its supply chain, explore export opportunities in European markets, and participate in strategic government tenders, including those from NAFED and Bharat Aata.
Founded in 2022 by Abhishek Kaushik, Mitra produces essential consumer goods such as flour, pulses, rice, and spices at affordable prices. The company boasts a distribution network spanning over 300 distributors and more than 15,000 retailers, operating across 14 key locations in India.
The startup is also eyeing expansion into Tier 2 and Tier 3 cities, targeting areas where access to affordable, high-quality products remains limited. In its year of inception, Mitra posted sales of INR 14 Cr and is now aiming to triple that figure to over INR 35 Cr by the end of the current financial year, representing a 3.5 times year-on-year growth.
Commenting on the funding round, Mitra’s founder and CEO, Abhishek Kaushik, said, “We are now eyeing to increase the production capacity with new categories and international growth along with the domestic market. We are grateful to our investors for their confidence and support as we embark on this exciting growth trajectory.”
Mitra’s growth comes at a time when India’s D2C market is flourishing, with over 190 Mn digital shoppers, making it the third-largest online shopping market globally. This funding round is part of a broader trend of D2C brands raising capital to fuel their expansion plans.
Recent examples include agritech startup Two Brothers Organic Farms, which raised INR 58.25 Cr ($7 Mn) in June in a Series A funding round led by Zerodha’s investment arm, Rainmatter Capital, to drive business growth in India and the US. In August, D2C baby food brand Bebe Burp secured INR 8 Cr in Pre-Series A funding from Gruhas Collective Consumer Fund to expand its presence in the baby food space.
