Country Delight scoops up $9 million in a funding round led by Alteria Capital
Country Delight, a dairy brand, has secured a total of Rs.76 crore ($9 million) in funding from Alteria Capital, combining both debt and equity. This marks the second round of funding for the Gurugram-headquartered company in 2021.
The regulatory filing accessed from RoC reveals that the board at Country Delight has approved a unique resolution to release 70,000 debentures at a price of Rs.1,00,000 each and 3,160 Series E1 CCPS at a price of Rs. 21,045 each in order to generate Rs. 76.65 crore.
Country Delight secured $20 million in funding during its series E round in January from investors such as, and other contributors. The dairy-producing startup is on the verge of reaching unicorn status, with a valuation of approximately $820 million following its latest equity round. To date, Country Delight has successfully raised a total of $175 million.
Country Delight, founded by Chakradhar Gade and Nitin Kaushal, offers a diverse selection of dairy products, bakery items, poultry, and farm-fresh produce to its valued clientele. By directly procuring its goods from dairy farms, the company ensures the highest quality for its customers. With a presence in 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune, Country Delight caters to the needs of a wide range of consumers.
According to data from the startup data intelligence platform TheKredible, Orios Venture Partners held the biggest share in Country Delight at 21.35%, while Matrix and Elevation held stakes of 16.59% and 9.38% respectively.
In February, Orios Venture Partners divested a portion of its investment in Country Delight by selling a 3% stake for approximately Rs.225 crore. The buyer of this stake was Seviora, an asset management group backed by Temasek.
According to media reports, Country Delight recorded an operating revenue of Rs 650 crore in the first half of the current financial year (FY24). In the previous financial year (FY23), the company's revenue was estimated to be around Rs 900 crore, compared to Rs 542.6 crore in FY22. However, the official financial numbers for FY23 are yet to be reported by the firm.
In January, Akshayakalpa Organic, a competitor of Country Delight, successfully secured $12 million in its Series C funding round, with A91 Partners leading the investment. Currently, the company is engaged in discussions to finalize a larger funding round amounting to $25 million.
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The regulatory filing accessed from RoC reveals that the board at Country Delight has approved a unique resolution to release 70,000 debentures at a price of Rs.1,00,000 each and 3,160 Series E1 CCPS at a price of Rs. 21,045 each in order to generate Rs. 76.65 crore.
Country Delight secured $20 million in funding during its series E round in January from investors such as
Country Delight, founded by Chakradhar Gade and Nitin Kaushal, offers a diverse selection of dairy products, bakery items, poultry, and farm-fresh produce to its valued clientele. By directly procuring its goods from dairy farms, the company ensures the highest quality for its customers. With a presence in 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune, Country Delight caters to the needs of a wide range of consumers.
According to data from the startup data intelligence platform TheKredible, Orios Venture Partners held the biggest share in Country Delight at 21.35%, while Matrix and Elevation held stakes of 16.59% and 9.38% respectively.
In February, Orios Venture Partners divested a portion of its investment in Country Delight by selling a 3% stake for approximately Rs.225 crore. The buyer of this stake was Seviora, an asset management group backed by Temasek.
According to media reports, Country Delight recorded an operating revenue of Rs 650 crore in the first half of the current financial year (FY24). In the previous financial year (FY23), the company's revenue was estimated to be around Rs 900 crore, compared to Rs 542.6 crore in FY22. However, the official financial numbers for FY23 are yet to be reported by the firm.
In January, Akshayakalpa Organic, a competitor of Country Delight, successfully secured $12 million in its Series C funding round, with A91 Partners leading the investment. Currently, the company is engaged in discussions to finalize a larger funding round amounting to $25 million.
