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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.

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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 raises Rs 200 Cr in debt from Alteria

EntrackrEntrackr · 8m 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.

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: Ola Electric raises Rs 100 Cr debt ahead of IPO

EntrackrEntrackr · 1y ago
Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO
Medial

IPO-bound Ola Electric has raised Rs 100 crore (approximately $12 million) in debt from Alteria Capital. This is the second round of debt funding for the Bengaluru-based company in 2024. The board at Ola Electric has passed a special resolution to issue 10,000 non-convertible dentures at an issue price of Rs 1,00,00 each to raise Rs 100 crore, its regulatory filings accessed from the Registrar of Companies (RoC) show. The development comes after two months of its $50 million debt funding from EvolutionX. According to the filings, the debentures have an interest rate of 13.8% per annum with an additional 2% interest per month over and above the coupon rate, in case of default of interest. As per the startup data intelligence platform TheKredible, the Bhavish Aggarwal-led company has raised more than $1 billion across equity and debt and was valued at $5.4 billion during the last round. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per media reports, the company has also received a green signal from market regulator SEBI for the public listing. Based on the DRHP filed by Ola Electric, Bhavish Aggarwal is the largest stakeholder with 36.94% followed by Soft Bank which commands 21.98% of the company. Tiger Global, Indus Trust, and Alpha Wave own 6.03%, 3.85% and 3.49%, respectively. Ola Electric grew at a rapid clip in FY23 which could be evident from its revenue that surged seven-fold to Rs 2,631 crore as compared to Rs 373 crore in FY22. Meanwhile, its losses increased by 87.76% to Rs 1,472 crore in the fiscal year ending March 2023. In the two-wheeler electric vehicles segment, the SoftBank-backed company competes with Hero Electric, Ather Energy, TVS, among others. As per Vahan data, Ola Electric controls 49% market share in two-wheeler EVs with 37,191 e-scooter registrations in May.

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