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Exclusive: Eternal infuses Rs 450 Cr into Blinkit as quick commerce rivalry heats up

EntrackrEntrackr · 7d ago
Exclusive: Eternal infuses Rs 450 Cr into Blinkit as quick commerce rivalry heats up
Medial

Exclusive: Eternal infuses Rs 450 Cr into Blinkit as quick commerce rivalry heats up Foodtech giant Eternal has invested Rs 450 crore (around $50 million) in its quick commerce subsidiary Blinkit through a rights issue. This is the first capital infusion into Blinkit in 2026, after the company received Rs 2,600 crore from Eternal in 2025. The board of Blinkit has passed a resolution to allot 2,799 equity shares to Eternal (formerly Zomato) at an issue price of Rs 16,07,161 per share, raising Rs 450 crore, according to regulatory filings reviewed by Entrackr. The latest infusion follows a series of capital injections by Eternal into Blinkit last year. The parent company invested Rs 500 crore in January 2025, followed by Rs 1,500 crore in February, and Rs 600 crore in November, taking the total investment in 2025 to Rs 2,600 crore. The move also comes amid rising competition in the quick commerce space. Zepto raised $450 million in October last year in a round led by US-based pension fund California Public Employees’ Retirement System (CalPERS). Swiggy’s board also mopped up Rs 10,000 crore through public or private offerings to ramp up its quick commerce play. Queries sent to Blinkit did not elicit a response. Earlier this year, Albinder Dhindsa, the CEO of Blinkit, took charge as Group CEO of Eternal, after Deepinder Goyal stepped down from the role. Financially, Blinkit has remained a leading player in the quick commerce segment. The company reported Rs 12,256 crore in revenue in Q3 FY26 and posted an adjusted EBITDA of Rs 4 crore during the same period. Meanwhile, Swiggy Instamart, in the same quarter, reported a loss of Rs 908 crore with the GOV of Rs 7,938 crore. Zepto also expected to be in loss although it didn’t reveal any numbers beyond FY25. With competition intensifying in quick commerce, companies continue to invest in supply chains, dark store networks, and faster delivery. Discounts have become a key growth driver for Blinkit, Swiggy Instamart, and Zepto. However, Sriharsha Majety recently said Swiggy will not chase discount-seeking customers and will instead focus on better SKUs and a stronger understanding of user needs. The space is gradually shifting from aggressive to sustainable growth. While all three are working toward profitability, Blinkit appears closer to real profit after reporting a marginal adjusted EBITDA profit in the last quarter.

Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight

EntrackrEntrackr · 1y 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.

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