Mitra Secures Rs 11 Cr Funding in Pre-Series A Round
Ahmedabad-based FMCG direct-to-consumer startup Mitra has raised Rs 11 crore in its pre-Series A funding round, led by Bestvantage Investments. The round saw participation from Dubai-based strategic family office headed by Mr. Surya, who contributed Rs 5 Cr, along with other strategic investors such as Arjun Vaidya, founder-V3 Ventures & ex-Dr Vaidya, and Ajay Kumar, ex-COO of Pizza Hut.
Key Highlights of the Funding
- Expanded Supply Chain and Export Opportunities: The proceeds will enable Mitra to strengthen its supply chain, explore export opportunities in European markets, and participate in strategic government tenders.
- New Manufacturing Units: The company will focus on expansion starting with its newly established manufacturing unit in Mathura and Gurugram, spanning over 40,000 square feet.
- Increased Capacity: Mittra currently has the capacity to produce more than 800 tons of flour and 3 lakh ltr of oil each month.
- Established Network: In its first year, Mitra posted Rs 14 crore in sales and built a distribution network of over 300 distributors and over 15,000 retailers, with operations across 14 key locations.
The commitment from strategic investors such as Arjun Vaidya, Ashok, Ajay Kumar and Shatrughan demonstrates confidence in Mitra’s growth prospects and provides a significant boost to the company’s expansion plans.
