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D2C Brand MITRA raises seed round from ah! Ventures Angel Platform |
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| 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. ah! Ventures’ has done 169 investments in 115 startups till date taking its total investment portfolio to INR 316 CR (~40 MN USD) with 15 exits and 44 follow on rounds. 15 investments have happened through all three platforms in 2023. |
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| The start-up plans to use the capital to establish a manufacturing unit and deploy technology to strengthen its product and service capabilities. |
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| 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. |
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| 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. |
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| 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. |
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| Ashish Kumar Goel, Deal Lead - MITRA and Venture Partner - ah! Ventures said, “The way Mitra had made their mark with exemplary packaging and quality has been remarkable. The thought process of working behind Grinding methodology and single breed isolation is something really Innovative and truly inspiring. Grabbing a No 2 position in then market with 70% repeats within 2 months only clearly states their CSAT and product adoption has a long way to go. Their vision of Making Massy more Claasy is really encouraging! Wish more and more success to them." |
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| Contact: Abhijeet Kumar, abhijeet@ahventures.in
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| ah! Ventures is one of the world's largest fundraising platform for early stage startups raising up to 10 MN USD. ah! Ventures has three platforms: First Gear, which helps startups raise upto INR 1 CR (~USD 150K), Angel Platform, which helps startups raise upto 1 MN USD and High Tables Platform, which helps startups raise 1-10 MN USD. Today ah! First Gear, Angel and High Tables platforms have over 70000+ entreprenurs, 2000+ seed/angel investors and over 1000 VCs & institutional investors registered with it. ah! First Gear, Angel and High Tables platforms till date have invested INR 316 CR (~40 MN USD) in 115 startups & 169 investments and have announced 15 exits & 44 follow on rounds. |
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| Contact: Abhijeet Kumar, abhijeet@ahventures.in
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