Dairy Startup 'Country Delight' gains Rs.70 crore Funding from Alteria Capital
Country Delight, a dairy and daily essentials brand, has raised Rs.70 crore funding, (approximately $8.45 million), from Alteria Capital. This is the investor’s second debt investment into the Gurugram-based company in 2024. The board at Country delight has given 7000 non-convertible debentures (NCDs) at an issue Value Rs.1,00,000 each to raise Rs.70 crore ($8.45 million), its regulatory documenting gotten to from the Recorder of Companies (RoC) shows.
In May, Country delight raised Rs.76 crore ($9 million) through debt and equity from Alteria Capital. Before that, it lifted up $20 million as a part of Series E round in January this year.
During the equity round, the company was valued at around $820 million. In February, Orios Venture Partners made a partial exit from the Chakradhar Gade-led business by selling a 3% stake to Temasek for approximately Rs.225 crore (about $27 million).
The early-stage venture capital firm also received substantial returns on its investments in BatterySmart, making this one of its multi-baggers exits. Country delight is a dairy and grocery start up that offers the conveyance of milk, milk items, and foods grown from the ground on a membership or subscription basis. Without the use of intermediaries, the platform interacts directly with farmers. It is working in Bengaluru, Chennai, Delhi (NCR), and other cities.
According to reports, Country Delight’s operating revenue in the first half of the current fiscal year (FY24) was Rs.650 crore, or $78 million. From the estimated Rs.900 crore ($108 million) in revenue in FY23, the business is likely to see a significant increase in FY24. The firm is yet to report FY23 and FY24 numbers formally.
The most recent shareholding and funding round breakups for country Delight can be found on the startup data intelligence platform TheKredible. It faces competition from, among others, Otipy, Milk Mantra, Sid’s Farm, and Akshayakalpa.
Sid’s Farm raised $10 million in Series A funding in June, while Akshayakalpa already received $12 million as part of a larger round in January. Otipy is shutting a $10 million round from new and existing financial backers.
In May, Country delight raised Rs.76 crore ($9 million) through debt and equity from Alteria Capital. Before that, it lifted up $20 million as a part of Series E round in January this year.
During the equity round, the company was valued at around $820 million. In February, Orios Venture Partners made a partial exit from the Chakradhar Gade-led business by selling a 3% stake to Temasek for approximately Rs.225 crore (about $27 million).
The early-stage venture capital firm also received substantial returns on its investments in BatterySmart, making this one of its multi-baggers exits. Country delight is a dairy and grocery start up that offers the conveyance of milk, milk items, and foods grown from the ground on a membership or subscription basis. Without the use of intermediaries, the platform interacts directly with farmers. It is working in Bengaluru, Chennai, Delhi (NCR), and other cities.
According to reports, Country Delight’s operating revenue in the first half of the current fiscal year (FY24) was Rs.650 crore, or $78 million. From the estimated Rs.900 crore ($108 million) in revenue in FY23, the business is likely to see a significant increase in FY24. The firm is yet to report FY23 and FY24 numbers formally.
The most recent shareholding and funding round breakups for country Delight can be found on the startup data intelligence platform TheKredible. It faces competition from, among others, Otipy, Milk Mantra, Sid’s Farm, and Akshayakalpa.
Sid’s Farm raised $10 million in Series A funding in June, while Akshayakalpa already received $12 million as part of a larger round in January. Otipy is shutting a $10 million round from new and existing financial backers.
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