AJVC, an investment firm established by Aviral Bhatnagar, has provided Rs 1.5 crore in seed funding to Mithila Foods, an FMCG company that produces food products based in Bihar.
According to a press release from the company, the initial funding will be utilized to increase distribution, fortify the supply chain, and launch new product categories that are inspired by Bihar's culinary history.
Key Highlights
- Mithila Foods raises ₹1.5 crore in seed round from AJVC, boosting production and regional expansion.
- Funding secured from Aviral Bhatnagar’s AJVC, marking early external investor support for Mithila Foods.
Mithila Foods, which was founded in January 2025 by Shubham Sunderka, Ankit Kumar, and Anshu Kumar, specializes in providing consumers in Bihar and urban markets with staple foods like sattu, roasted chana, makhana, and katarni chuda.
Mithila Foods claims to have grown quickly in less than five months, launching more than 20 SKUs, serving more than 25,000 customers across 4,000 pin codes, and surpassing Rs 3 crore in annualized revenue.
The company claims that since opening a warehouse in Dumka, the brand has spread throughout the nation, catering to both urban consumers and migrant communities. Its distribution consists of offline retail in tier I and tier II cities as well as e-commerce sites like Amazon and Flipkart.
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As part of its standard investment strategy, AJVC funds startups with Rs 1.5 crore for a 9% equity stake. The company has so far made investments in nine pre-seed stage startups in industries such as consumer technology, B2B, AI, and consumer brands. Notably, Assam and Jharkhand are home to a number of these startups.
A Junior VC (AJVC) in Aviral Bhatnagar closed its first Rs 100 crore fund in March with the goal of assisting Indian startups in the pre-seed stage.
