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

EntrackrEntrackr ยท 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 Delightโ€™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 Delightโ€™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 ยท 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 companyโ€™s working capital needs and other business requirements, according to filings. Entrackr estimates that Country Delightโ€™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 dateโ€”including both debt and equityโ€”prior to this round. Temasek remains the companyโ€™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.

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