Country Delight Raises ₹200 Cr From Alteria Capital

Milk and grocery delivery platform Country Delight announced the final close of its ₹200 crore debt funding round from venture debt firm Alteria Capital. The dairy tech startup raised ₹70 crore from Alteria Capital in August this year.

The funds raised via the debt funding round will be used towards the startup’s expansion plans and capacity. In addition to this, a chunk will also be utilised to fund the company's marketing initiatives.

While commenting on the company’s future course of plan, Country Delight co-founder and CEO Chakradhar Gade said, “… As we scale our operations and prepare for our IPO journey, it is important for us to use various capital sources to improve financial efficiency and also set us up for the next phase of growth.”

While reiterating on the fundraise, Alteria Capital’s co-founder and managing partner Vinod Murali said, “… We are investing further in Country Delight, since the company is very well placed to capitalise on its strong operating foundation and access capital markets on a path to eventual listing.”

As of now, Country Delight has raised more than $248 million in funding till date. The startup is backed by names including Orios Venture Partners, Z47 (formerly Matrix Partners India) and Temasek.

Operating on a subscription model, the startup claims to provide deliveries across 15 cities totalling to 15 lakh subscribers.

Founded by IIM Indore alumni Chakradhar Gade and Nitin Kaushal in 2015, the startup delivers dairy products, including milk, desi ghee, paneer, and eggs, among many others, directly from farmers to consumers.

Alteria Capital is a venture debt company that has funded Rebel Foods, Ola Electric, and Zepto. It claims to have assets under management (AUM) of more than ₹4,400 crore.