Gurugram-based Country Delight raises Rs 70 crore in debt from Alteria Capital

Gurugram-based dairy and daily essential startup Country Delight has raised Rs 70 crore in debt funding from Alteria Capital. 

The board at Country Delight has issued 7000 non-convertible debentures (NCDs) at an issue Price of Rs 1,00,000 each to raise Rs 70 crore ($8.45 million), Entrackr reported, citing the company's regulatory filing accessed from the Registrar of Companies (RoC).

Previous funding

Earlier in May this year, Country Delight raised Rs 76 crore ($9 million) from Alteria Capital through a combination of debt and equity. 

Prior to this, the company secured $20 million in a Series E funding round in January, which valued the startup at approximately $820 million.

Additionally, in February, there was a secondary transaction where Orios Venture Partners made a partial exit by selling a 3% stake to Temasek for around Rs 225 crore ($27 million).

What does Country Delight do?

Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight operates on a subscription-based model, delivering milk, milk products, fruits, and vegetables directly to consumers.

Unlike others, the startup claims to engage directly with farmers, eliminating middlemen. The platform is operational in about 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.

With the new infusion of capital, Country Delight is expected to enhance its market presence and expand its service offerings.