Gurugram-based diary brand Country Delight raises Rs 76Cr in debt and equity: Report

Gurugram-based diary brand Country Delight has reportedly raised Rs 76 crore (or around $9 million) through a mix of debt and equity funding from Alteria Capital.

Country Delight's board approved a special resolution to issue 70,000 debentures priced at Rs 1,00,000 each and 3,160 Series E1 Compulsorily Convertible Preference Shares (CCPS) at Rs 21,045 each. This strategic move raised Rs 76.65 crore, Entrackr reported citing the regulatory filings from the Registrar of Companies (RoC).

Previous funding rounds

Earlier in January, Country Delight raised $20 million in its Series E round from notable investors such as Temasek, Seviora Capital, Venturi Partners, and others.

The recent funding round puts Country Delight on the brink of achieving unicorn status, with its valuation nearing $820 million. So far, the startup has raised approximately $175 million across all its funding rounds. 

What does Country Delight do?

Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight offers a wide range of high-quality products, including dairy products, bakery goods, poultry, and fresh farm produce. 

The company claims that it ensures the freshness and quality of its products by sourcing directly from dairy farms and delivering them to customers’ doorsteps. 

Country Delight's operations currently span across 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.

Shareholding pattern

According to startup data intelligence platform TheKredible, Orios Venture Partners is the largest stakeholder in Country Delight with a 21.35% stake, followed by Matrix Partners with 16.59%, and Elevation Capital with 9.38%.

In February, Orios Venture Partners made a partial exit, selling a 3% stake to Temasek-backed Seviora Capital for approximately Rs 225 crore.