Dairy Brand Country Delight Gets Fresh Rs 70 crore Funds in Debt

SA TeamAugust 5, 2024

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Three points you will get to know in this article:

Country Delight raised Rs 70 crore ($8.45 million) debt from Alteria Capital
This is the second debt infusion into Country Delight in 2024 By Alteria
Company estimated Rs 900 crore ($108 million) revenue in FY23, it is expecting a considerable increase in FY24

Country Delight Gets 2nd Funding in Debt from Alteria Capital this Year

Country Delight, a dairy and daily esstentials brand, has raised debt from Alteria Capital to the tune of Rs 70 crore ($8.45 million). This represents the investor’s second debt injection into the Gurugram-based company in 2024.

According to Country Delight’s regulatory filing, which can be accessed through the Registrar of Companies (RoC), the board issued 7000 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 apiece in order to raise Rs 70 crore ($8.45 million).

Country Delight raised Rs 76 crore ($9 million) from Alteria Capital in May using debt and equity. It had previously received $20 million in January of this year as part of a Series E investment. During the equity round, the company was valued at about $820 million.

How Are Country Delight’s Financials?

A dairy and grocery delivery service called Country Delight provides fruits, vegetables, dairy goods, and milk on a subscription basis. Without using intermediaries, the platform interacts with the farmers directly. Among other places, Delhi (NCR), Mumbai, Bengaluru, and Chennai are its operational hubs.

According to reports, during the first half of the most recent fiscal year (FY24), Country Delight’s operating revenue was Rs 650 crore ($78 million). From the predicted sales of Rs 900 crore ($108 million) in FY23, the company is expected to report a considerable increase in revenue in FY24. The company has not yet released official FY23 and FY24 financial data.

For information on Country Delight’s most recent shareholding and investment round splits, see the startup data analytics platform TheKredible.

Other Similar Startups Like Country Delight And Their Funding Status

Its rivals include Otipy, Sid’s Farm, Milk Mantra, and Akshayakalpa. Sid’s Farm raised $10 million in Series A funding in June, while Akshayakalpa had already raised $12 million as part of a larger round in January. Otipy is wrapping up a $10 million funding round from both new and current backers. The development was exclusively reported by news outlets last month.