Gurugram-based dairy and daily essentials startup, Country Delight, has successfully raised Rs 70 crore in debt funding from Alteria Capital. This move is part of the company’s strategic efforts to enhance its market presence and expand its service offerings.
Raising Capital Through Debentures
According to a report by Entrackr, Country Delight’s board has issued 7,000 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each, totaling Rs 70 crore ($8.45 million). This information was accessed from the company’s regulatory filing with the Registrar of Companies (RoC).
Previous Funding Rounds
Country Delight has been actively raising funds to support its growth. In May of this year, the company secured Rs 76 crore ($9 million) from Alteria Capital through a combination of debt and equity. Prior to this, in January, Country Delight raised $20 million in a Series E funding round, which valued the startup at approximately $820 million. Additionally, in February, Orios Venture Partners made a partial exit by selling a 3% stake to Temasek for around Rs 225 crore ($27 million) in a secondary transaction.
About Country Delight
Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight operates on a subscription-based model. The startup delivers milk, milk products, fruits, and vegetables directly to consumers. What sets Country Delight apart is its direct engagement with farmers, eliminating the need for middlemen. This approach ensures that customers receive fresh and high-quality products.
Expanding Market Presence
Country Delight is currently operational in about 15 cities across India, including major cities like Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. With the new infusion of capital from Alteria Capital, Country Delight aims to further enhance its market presence and expand its service offerings to more cities.
The recent debt funding from Alteria Capital marks a significant milestone for Country Delight as it continues to grow and strengthen its position in the dairy and daily essentials market. By focusing on quality and direct farmer engagement, Country Delight is poised to make a substantial impact in the Indian market.
