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Country Delight Closes INR 200 Cr Debt Round From Alteria Capital
Inc42
·
9m ago
Medial
Country Delight, a startup that delivers milk and other daily essentials directly to consumers, has raised INR 200 crore ($26.3 million) in debt funding. The funding round, led by Alteria Capital, will be used to expand the company's operations, increase capacity, and support marketing efforts. Country Delight had previously raised INR 70 crore ($9.2 million) from Alteria Capital in August 2020. Since its establishment in 2015, the company has been focused on providing high-quality dairy products and other essentials to customers.
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Country Delight raises Rs 200 Cr in debt from Alteria
Entrackr
·
9m ago
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.
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Rebel Foods backer Alteria Capital closes third venture debt fund at $186 mn
VCCircle
·
1y ago
Medial
Alteria Capital, a venture debt firm and backer of Rebel Foods, has closed its third venture debt fund at INR 1,550 crore (around $186 million). The fund, which surpassed its initial INR 1,000 crore target, will invest in venture capital-backed startups, providing up to INR 200 crore per company. Alteria Capital has also introduced a twin scheme strategy, comprising a venture debt scheme and a shorter duration scheme, with a final close expected by the end of 2024. The fund has already invested 50% of its capital commitments and currently has an AUM of INR 4,350 crore.
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Country Delight raises Rs 200 crore in debt from Alteria Capital
Economic Times
·
9m ago
Medial
Country Delight, a direct-to-consumer fresh foods brand, has secured Rs 200 crore in venture debt from Alteria Capital. The funds will be used for expansion, capacity increase, and brand marketing as the company prepares for its IPO journey. Country Delight, which offers delivery of fresh food essentials through a daily subscription model, serves 1.5 million users across 15 Indian cities. The company had previously raised Rs 164 crore in equity funding from Temasek and has a valuation of $804 million. Venture debt is becoming popular among growing companies looking to finance expansion without diluting equity.
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Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight
Entrackr
·
1y ago
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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Fresh Bus raises INR 43.9 Cr, closes series A at INR 87.5 Cr
Inshorts
·
11m ago
Medial
Bengaluru-based inter-state electric bus service provider Fresh Bus has raised an additional INR 43.9 Cr (about $5.2 Mn) in its Series A funding round led by Maniv Mobility. The round also saw participation from Shell Ventures, Alteria Capital and existing investor Riverwalk Holdings.
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Country Delight to raise $25 Mn from Temasek
Entrackr
·
4m ago
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.
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Exclusive: Country Delight raises $9 Mn through debt and equity
Entrackr
·
1y ago
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.
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Pratilipi raises ₹10.11 cr from Alteria Capital
Inshorts
·
6m ago
Medial
Bengaluru-based self-publishing platform Pratilipi has raised ₹10.11 crore in a bridge funding round, which was a mix of equity and debt, from Alteria Capital. Out of the ₹10.11 crore, about ₹5 crore was raised in debt and the remaining was equity funding, as per the startups regulatory filings.
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Exclusive: Country Delight Posts INR 650 Cr Sales In H1 FY24
Inc42
·
1y ago
Medial
Delhi NCR-based startup Country Delight has reported a revenue of INR 650 Cr ($87 Mn) for the first half of the current financial year. The company expects to maintain this revenue rate for the entire year. The dairy tech startup aims to achieve EBITDA breakeven by the end of H1 2025, according to sources. Country Delight's operating revenue for FY23 was approximately INR 900 Cr, showing a 66% increase from the previous fiscal year. The company's net loss in FY22 was INR 186.4 Cr, up from INR 28.2 Cr in the previous year. Country Delight offers a subscription-based model, delivering milk and other dairy products to customers' doorsteps.
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Dailyhunt Parent VerSe Innovation Secures INR 50 Cr Debt From Alteria Capital
Inc42
·
1y ago
Medial
VerSe Innovation, the parent company of Dailyhunt and Josh, has raised INR 50 Cr ($6.25 Mn) in debt funding from Alteria Capital. The funds will be used for general corporate purposes and to support business growth and expansion plans. VerSe reported losses of INR 1,909.7 Cr in FY23, down 25% from the previous fiscal year. The company's flagship product, Dailyhunt, claims to have over 350 Mn monthly active users, while Josh reportedly has 139 Mn monthly active users and 68 Mn daily active users. This funding round comes after VerSe raised $805 Mn in 2022.
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