Team Startupcity

• Mitra raises Rs 14 Cr in bridge round Bestvantage led, with participation from marquee investors.
• Startup to launch 3,000-ton flour plant in October, expand into millet-based and lifestyle food categories.
• Revenue jumped from Rs 11 Cr in FY24 to Rs 40 Cr in FY25; on track to cross Rs 120 Cr this year.

Mumbai-based FMCG startup Mitra raised Rs 14 crore ($1.6 million) in a bridge equity round, Bestvantage Investments led . Existing investors such as a Dubai-based family office and a few marquee backers joined in as well.

Mitra will invest the funds to commission a new 3,000-ton refined flour (maida) plant in October and move into millet-based and lifestyle segments like gluten-free, sugar-free, diabetic-friendly flours, and organic spices.

Mitra also plans to expand its presence in GCC markets and implement smart manufacturing technologies to enhance efficiency and production.

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Established in 2023, Mitra created its brand around its distinctive methodology of stone-grinding ('Chakki Fresh'), to maintain nutritional benefits and freshness. It concentrates on tier II and tier III markets and delivers premium products at mid-range prices with a 92% repeat purchase loyalty.

The startup grew swiftly from Rs 11 crore in revenue during FY24 to Rs 40 crore during FY25 and is on target to go past Rs 120 crore this year. Its new plant is set to drive monthly recurring revenue up from Rs 12 crore to Rs 17 crore in November 2025, while the firm is already at EBITDA profitability.

Mitra also affirmed the plan to raise a Series A round in April 2026, aimed at a valuation of Rs 500 crore as it expands manufacturing capacity, product portfolios, and geographies.