Country Delight, a rapidly growing dairy brand in India, has successfully secured Rs 76 crore ($9 million) through a blend of debt and equity funding from Alteria Capital. It was the second funding round for it in 2024 and highlights strong market presence as well as accelerated growth journey.
It is learned that the Country Delight’s board has sanctioned a special resolution to issue 70,000 debentures and each is priced at Rs 1,00,000 and 3,160 Series E1 Compulsorily Convertible Preference Shares (CCPS) at Rs 21,045 each. This is aggregating to Rs 76.65 crore.
In January funding round it raised $20 million in its Series E round from leading investors like Temasek, Seviora Capital and Venturi Partners. The company may soon touch the milestone of unicorn status. Its valuation is very close to $820 million now.
Country Delight was founded by Chakradhar Gade and Nitin Kaushal. It offers a broad array of dairy and bakery products like poultry and fresh farm produce. It mainly emphasizes sourcing directly from dairy farms and ensures high quality and freshness for customers. It currently serves in 15 major cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai and Pune.
Data intelligence startup TheKredible reports that Orios Venture Partners holds the largest stake in Country Delight. It holds 21.35% of stake. Other significant stakeholders include Matrix Partners and Elevation Capital. These two are at 16.59% and 9.38% respectively.
The operating revenue of Country Delight is learned to have reached to Rs 650 crore in the first half of the current financial year (FY24). It was around Rs 900 crore in In FY23.
