India signs cooperation agreement with World Food Programme for 2023-27
Deploying technology to strengthen its product and service capabilities
MITRA, A D2C Fast Moving Consumer Goods (FMCG) brand, has raised an undisclosed amount in a recent funding round from ah! Ventures Angel Platform. The current round is led by Bestvantage Investments.
The startup plans to use the capital to establish a manufacturing unit and deploy technology to strengthen its product and service capabilities.
Abhishek Kaushik, founder of MITRA, claimed that the company had witnessed 42x growth coupled with a 68 per cent repeat rate since its inception in 2022. The D2C brand has reportedly sold over 42,000 flour packs through its network of more than 200 distributors, retailers, and online platforms.
The Gurugram-based company’s product portfolio comprises 10 categories of flour, pulses, spices, dry fruits, nuts, rice, instant mixes, millet-based and ready-to-eat products in 40 variants, prepared using single-breed isolation technology to ensure the product’s quality. These are sourced directly from farmers across India, choosing crops grown without chemical pesticides.
Moreover, most of these products are processed and packaged in a controlled environment with minimal moisture levels to increase the shelf life of products to six months, thereby resolving storage-related issues for its channel partners and customers.
ah! Ventures’ has done 169 investments in 115 startups till date taking its total investment portfolio to Rs 316 crore with 15 exits and 44 follow on rounds. 15 investments have happened through all three platforms in 2023.