A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
The business intends to use the additional funding to advance its expansion goals, beginning with the opening of new manufacturing facilities in Mathura and Gurugram.
In addition, Mitra plans to use the money earned to expand the strength of its supply chain, look into export prospects in European markets, and take part in important government tenders like NAFED and Bharat Aata.
Mitra is a consumer brand that offers reasonably priced staples like rice, flour, lentils, and spices. The business states that it operates in 14 strategic locations and has a network of more than 15,000 stores and more than 300 distributors.
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The firm from Gurugram is also aiming for Tier 2 and Tier 3 cities, where there is little availability of reasonably priced, superior items.
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.”
About Mitra
Founded in 2022 by Abhishek Kaushik, Mitra is a consumer brand that produces essential goods such as flour, pulses, rice, and spices at affordable prices.
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