Monday, July 15, 2024

Country Delight Raises Rs 76 Crore in Funding: Report

Share post:

Gurugram-based dairy brand Country Delight has raised Rs 76 crore (approximately $9 million) through debt and equity funding from Alteria Capital. According to a media report, the company’s board approved a special resolution to issue 70,000 debentures at Rs 1,00,000 each and 3,160 Series E1 Compulsorily Convertible Preference Shares (CCPS) at Rs 21,045 each. This strategic move resulted in a total of Rs 76.65 crore, as per regulatory filings with the Registrar of Companies (RoC).

Previous Funding Rounds

In January, Country Delight secured $20 million in its Series E round funding from notable investors such as Temasek, Seviora Capital, Venturi Partners, and others. With the recent funding round, Country Delight is on the verge of achieving unicorn status, with its valuation nearing $820 million. So far, the startup has raised approximately $175 million across all its funding rounds.

Country Delight Raises Rs 76 Crore in funding.

About Country Delight

Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight offers a variety of high-quality products, including dairy items, bakery goods, poultry, and fresh farm produce. The company ensures the freshness and quality of its products by sourcing directly from dairy farms and delivering them to customers’ doorsteps. Currently, Country Delight operates in 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.

Shareholding Pattern

According to TheKredible, a startup data intelligence platform, Orios Venture Partners is the largest stakeholder in Country Delight, holding a 21.35% stake. Matrix Partners follows with a 16.59% stake, and Elevation Capital holds 9.38%. In February, Orios Venture Partners made a partial exit, selling a 3% stake to Temasek-backed Seviora Capital for approximately Rs 225 crore.

Country Delight’s recent funding round of Rs 76 crore from Alteria Capital marks a significant step towards achieving unicorn status. The company’s strong focus on quality and freshness, along with its expanding operations across major Indian cities, positions it well for continued growth and success in the competitive dairy market.

Related articles