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Country Delight raises Rs 200 Cr in debt from Alteria

EntrackrEntrackr · 7m ago
Country Delight raises Rs 200 Cr in debt from Alteria
Medial

Gurugram-based dairy brand and daily essential brand Country Delight has raised Rs 200 crore in venture debt from Alteria Capital. The D2C firm received Rs 140 crore in debt across two tranches in May and August. Entrackr exclusively reported the development. It also scooped up $20 million in an equity round early this year. The debt funds will be used to support the company’s expansion, increase capacity, and drive brand marketing efforts, the company stated in a press release. “As we scale our operations and prepare for our IPO journey, it is important for us to use various capital sources to improve financial efficiency and also set us up for the next phase of growth,” said Chakradhar Gade, co-founder and CEO of Country Delight. Launched by Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to 1.5 million customers in 15 cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. As per startup data intelligence platform TheKredible, Country Delight is close to becoming a unicorn as it was valued at around $820 million in the last equity round. It has raised around $200 million to date. For the fiscal year FY24, Country Delight posted a revenue of Rs 1,380 crore, according to a report by The ARC. In FY23, its revenue was estimated at around Rs 900 crore against Rs 542.6 crore in FY22. The firm has yet to report FY23 and FY24 numbers officially. Recently, Stellapps secured $26 million in a Series C funding round. The company also faces competition from Akshayakalpa, Sid’s Farm, Milky Mist, and, to a lesser extent, Otipy.

Exclusive: Country Delight raises $9 Mn through debt and equity

EntrackrEntrackr · 1y ago
Exclusive: Country Delight raises $9 Mn through debt and equity
Medial

Dairy brand Country Delight has raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. This is the second funding for the Gurugram-based company this year. The board at Country Delight has passed a special resolution to issue 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 Series E1 CCPS at an issue price of Rs 21,045 each to raise Rs 76.65 crore, its regulatory filing accessed from RoC shows. In January, Country Delight raised 20 million in its series E round from Temasek, Seviora Capital, Venturi Partners, and others. The company is close to becoming a unicorn as it was valued at around $820 million in the last equity round. It has raised around $175 million to date. Launched by Chakradhar Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to customers in 15 cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. As per startup data intelligence platform TheKredible, Orios Venture Partners was the largest stakeholder in Country Delight with 21.35% stake followed by Matrix and Elevation with 16.59% and 9.38% stake respectively. In February, Orios Venture Partners made a partial exit from Country Delight by selling 3% stake for around Rs 225 crore. Orios sold its stake to Temasek-backed asset management group Seviora. As per media report, Country Delight’s operating revenue stood at Rs 650 crore in the first half of the ongoing financial year (FY24). In FY23, its revenue was estimated at around Rs 900 crore against Rs 542.6 crore in FY22. The firm is yet to report FY23 numbers officially. In January, Country Delight’s competitor Akshayakalpa Organic raised $12 million in its Series C round led by A91 Partners. The firm is in talks to close a larger round to the tune of $25 million.

Country Delight to raise $25 Mn from Temasek

EntrackrEntrackr · 3m ago
Country Delight to raise $25 Mn from Temasek
Medial

Gurugram-based dairy and daily essential brand Country Delight is raising Rs 212.5 crore (approximately $25 million) in its Series E round from Temasek. This is the first equity round for the company in 2025. The board at Country Delight has passed a special resolution to issue 1,00,974 Series E compulsory convertible preference shares to Temasek through (V-Sciences Investments Pte Ltd) to raise Rs 212.5 crore or ($25 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. The proceeds will be used to meet the company’s working capital needs and other business requirements, according to filings. Entrackr estimates that Country Delight’s post-money valuation stood at $820 million, reflecting a flat valuation. The firm had raised $20 million in a pre-Series E round last year at a similar valuation. In October 2024, it also secured Rs 200 crore in debt from Alteria Capital. Launched by Chakradhar Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to 1.5 million customers. It currently operates in more than 25 cities, including Delhi NCR, Bengaluru, and Chandigarh. According to startup data intelligence platform TheKredible, Country Delight had raised $220 million to date—including both debt and equity—prior to this round. Temasek remains the company’s largest external stakeholder, holding a 13.63% stake post-allotment. Country Delight recently entered into the quick commerce fray and launched a pilot for its 10-15 minute delivery service in Gurugram. With these offerings, the firm will also compete with players like Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now. The daily essential platform has not reported its financial numbers for FY24 officially. As per a report by The Arc, Country Delight posted a revenue of Rs 1,380 crore in FY24, surging 50% from Rs 917 crore in FY23, while incurring a loss of Rs 260 crore during FY23.

Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight

EntrackrEntrackr · 11m ago
Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight
Medial

Dairy brand and daily essential brand Country Delight has raised Rs 70 crore ($8.45 million) in debt from Alteria Capital. This is the second debt infusion from the investor in the Gurugram-based firm in 2024. The board at Country Delight has issued 7000 non-convertible debentures (NCDs) at an issue Price Rs 1,00,000 each to raise Rs 70 crore ($8.45 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. In May, Country Delight raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. Prior to that, it scooped up $20 million as a part of Series E round in January this year. The company was valued at around $820 million during the equity round. The Chakradhar Gade-led company also saw a secondary transaction in February when Orios Venture Partners made a partial exit by selling 3% stake to Temasek for around Rs 225 crore ($27 million). It was one of the multi-bagger exits for the early-stage VC firm, which also made substantial returns on its investments in BatterySmart. Country Delight is a dairy and grocery startup that offers the delivery of milk, milk products, fruits and vegetables on a subscription basis. The platform engages directly with the farmers without middlemen. It’s operational in Delhi (NCR), Mumbai, Bengaluru, and Chennai, among others. Country Delight’s operating revenue reportedly stood at Rs 650 crore ($78 million) in the first half of the last financial year (FY24). The company is likely to post a significant jump in FY24 from the estimated revenue of Rs 900 crore ($108 million) in FY23. The firm is yet to report FY23 and FY24 numbers officially. Check startup data intelligence platform TheKredible for country Delight’s latest shareholding and funding round breakups. It competes with Akshayakalpa, Milk Mantra, Sid’s Farm and Otipy, among others. While Akshayakalpa already raised $12 million as a part of a larger round in January, Sid’s Farm raised $10 million in Series A in June. Otipy is closing a $10 million round from new and existing investors. Entrackr exclusively reported the development last month.

Rebel Foods raises $13 Mn debt

EntrackrEntrackr · 1y ago
Rebel Foods raises $13 Mn debt
Medial

Cloud kitchen brand Rebel Foods has raised Rs 110 crore ($13.2 million) in debt from Alteria and InnoVen Capital. This is the fifth debt funding for the parent company of EatSure (previously Faasos) after its last equity round in 2021. The board at Rebel Foods has passed a special resolution to issue 11,000 Series G1 non-convertible debentures at an issue price of Rs 1,00,000 per debenture to raise Rs 110 crore, regulatory filings with the Registrar of Companies (RoC) show. Orbis Trusteeship (through Alteria) has invested Rs 65 crore while Vistra ITCL ( via InnoVen Capital) pumped in Rs 45 crore during the debt round. The tenure of paying Series G1 debt is up to 01 May 2027. According to filings, each debenture issued in the debt round shall be entitled to the interest of 13.90% per annum. The interest shall be payable on a monthly basis. In April last year, it raised Rs 75 crore ($9 million) in debt from Catalyst Trusteeship (Northern Arc) and Stride Ventures. In 2022, the Mumbai-based firm received Rs 230 crore across three debt fundings. Rebel Foods operates food brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Mandarin Oak, The Good Bowl, and Slay Coffee with more than 450 kitchens in over 70 cities. It has a portfolio of over 45 brands across multiple countries—India, United Arab Emirates (UAE), Saudi Arabia and the UK. The company is planning to take Oven Story Pizza offline and will open 250-300 outlets over the next two-three years. The Jaydeep Barman-led company entered the unicorn club after a $175 million Series F round led by Qatar Investment Authority in October 2021. The Peak XV-backed company raised its last equity round of $14.5 million in November 2021. Rebel Foods’s operating revenue surged to Rs Rs 1,258 crore in FY23 from Rs 856 crore in FY22. According to startup data intelligence platform TheKredible, its losses jumped to Rs 656 crore in FY23 from Rs 564 crore in the previous year. As per media reports, Rebel Foods is planning for an initial public offering (IPO) by 2025, making it the first firm from cloud kitchen space to list on the Indian stock exchange.

FIITJEE-backed PlanetSpark raises fresh funds in ongoing round

EntrackrEntrackr · 1y ago
FIITJEE-backed PlanetSpark raises fresh funds in ongoing round
Medial

Edtech platform PlanetSpark has raised Rs 141.8 crore or $17 million in an extended Series B round led by Prime Venture Partners via Seabright. The round also saw the participation of InnoVen Capital, Alteria Capital, myPat, GGT3 Ventures, Ashish Gupta, and IAN Investors. Its co-founders Maneesh Dhooper and Kunal Malik also invested in the firm. The fresh funding for the Gurugram-based edtech company has come after a gap of 26 months. The funding also includes Rs 30 crore debt while the rest is in the form of equity. The board at PlanetSpark has passed a special resolution to issue 887 compulsory convertible preference shares (CCPS) at an issue price of Rs 3,10,000 per share and 2,271 CCPS & 1,974 equity shares at an issue price of Rs 1,51,462.32 a piece for a consideration of Rs 91.8 crore or $11 million. The company also issued 5,000 non-convertible debentures (NCDs) to raise Rs 50 crore or $6 million in debt from InnoVen Capital and Alteria Capital, per the company’s regulatory filings with the Registrar of Companies. Note: The information is based on the four separate regulatory filings filed in October and November of 2022 and May and November of 2023. Prime Venture Partners led the equity round with Rs 49.7 crore followed by InnoVen Capital and Alteria Capital which invested Rs 43.6 crore and Rs 10.9 crore, respectively. Co-founders Maneesh Dhooper and Kunal Malik also joined with Rs 14.95 crore each. FIITJEE powered myPAT (Edfora Infotech), GGT3 Ventures, Ashish Gupta, and IAN Investors poured in the remaining sum. As per the startup intelligence platform TheKredible. the company has mopped up over $34 million to date in debt and equity capital across several rounds. Previously, it raised $13.5 million in the Series B round in December 2021. While the company’s financial picture in the ongoing fiscal year would be known when it discloses FY24 results, PlanetSpark’s revenue from operations grew 41.3% to Rs 42.4 crore during FY23 as compared to Rs 30 crore in FY22. As per TheKredible, the firm managed to control its losses by 18% to Rs 89.5 crore in FY23 against Rs 109.4 crore in FY22. PlanetSpark offers live 1:1 classes in public speaking, creative writing, storytelling, debate, podcasting, stand-up comedy, and poetry for the K8 generation.

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