Mitra, the trailblazing FMCG direct-to-consumer startup, has successfully concluded its Pre-Series A funding round raising a total of Rs 5 crores led by Bestvantage Investments. This round also saw active participation from esteemed investors such as Ah!ventures, Soonicorn Ventures and Beej Network.
In a remarkable feat, Mitra has established its own state-of-the-art manufacturing unit in Mathura, spanning over 40,000 square feet. With a capacity to produce over 8 lakhs kilograms of flour every month, this achievement within a year of its launch marks a significant milestone for Mitra. Abhishek Kaushik, Founder of Mitra, expressed his gratitude for this accomplishment, stating, "This journey has been truly incredible for us so far, and pioneering this milestone in just about an year of launch has been a great booster for all our customers, team, and investors."
Reflecting on its achievements, Mitra celebrates crossing $2 million in sales with 3200% of growth within its first year of launch. The company boasts a robust network of over 300 distributors, 10,000+ retailers, and operations across 14 locations. Additionally, with two expansive manufacturing plants covering over 40,000 square feet, Mitra plans to expand exports to European markets and also participate in Government tenders such as NAFED and Bharat Aata.
With a clear vision and unwavering commitment to excellence, Mitra has set ambitious targets, aiming to surpass $5 million in sales this year, marking a remarkable 3.5x increase from the previous year. Bolstered by positive net EBIDTA and a thriving ecosystem of investors and supporters, Mitra is poised for exponential growth, strengthening its position as a frontrunner in the FMCG sector. For more investment opportunities in prominent startups, please visit www.bestvantageinvestments.com or contact us directly at raman@bestvantageinvestments.com
Congrats to MITRA team