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 * FMCG
 * 1 min read


D2C STARTUP MITRA RAISES RS 1.5 CR IN SEED ROUND

Launched in 2022, Mitra aims to use the funds to set up a manufacturing unit to
strengthen its products and services. Additionally, the startup aims to focus on
expanding its product portfolio and increasing the number of SKUs (stock-keeping
units) in its existing brand portfolio.

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E
 * ETRetail Desk ,
 * ETRetail

 * Updated On Mar 4, 2023 at 12:04 AM IST
   

Read by: 4986 Industry Professionals
Read by 4986 Industry Professionals
New Delhi: FMCG direct-to-consumer startup, Mitra has raised a seed round of Rs
1.5 crore, the company said in a press release. The funding round was led by
Bestvantage Investments.

"We are thrilled about the prospects of the funding round. We plan to utilise
the accumulated funds to establish our manufacturing unit which would
substantially enhance the quality of our products," said Abhishek Kaushik,
founder, Mitra. He claimed that the company has recorded 42X growth along with
68 per cent repeat rate.

Launched in 2022, Mitra aims to use the funds to set up a manufacturing unit to
strengthen its products and services. Additionally, the startup aims to focus on
expanding its product portfolio and increasing the number of SKUs (stock-keeping
units) in its existing brand portfolio.


Advt


Commenting on the funding, Raman Sharma, founder, Bestvantage Investments said,
"Incepted in 2022, MITRA has achieved numerous commercial milestones and has
established itself as an efficient FMCG brand."

Highlighting the evolving paradigm of consumer goods brands in India, Sharma
opined that there is an immense scope for brands like Mitra to thrive in the
nation.

The Gurugram headquartered company sells products across categories such as
flour, pulses, spices, dry fruits, nuts, rice, instant mixes, millet-based and
ready-to-eat. The company claims that it sources the product ingredients
directly from farmers across the country.

   
 * By ETRetail Desk ,
 * ETRetail

   
 * Published On Mar 4, 2023 at 12:04 AM IST
   


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