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Funding · Commerce & Consumer Brands

Country Delight raises ₹65 crore debt from Alteria Capital

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Date
Company
Country Delight
What it does
Direct dairy and farm produce delivery
Kind
Funding
Amount
₹65 Cr
Stage
debt
Sector
Commerce & Consumer Brands

What they do

Country Delight delivers dairy, bakery, poultry, and farm produce directly to consumers

What happened

The company raised ₹65 crore via non-convertible debentures for general corporate activities

Why it matters

This follows a $212.5 crore Series E led by Temasek in March 2025

The details

  • Country Delight has raised ₹65 crore through a debt instrument.
  • The funds come from Alteria Capital via non-convertible debentures.
  • These debentures are fixed-income securities that pay regular interest.
  • The company issued 6,500 units with a face value of ₹1 lakh each.
  • The capital will support general corporate activities as per the report.
  • This is the latest financial move after its Series E round.
  • Temasek led that previous equity raise in March 2025.
  • Total capital raised to date now stands at $220 million.

The bigger picture

  • Debt financing helps manage cash flow without diluting existing shareholders.
  • It complements the large equity injection from Temasek earlier this year.
  • The move signals confidence in the company's operational stability.
  • Non-convertible debentures do not convert into equity shares automatically.

About the business

  • The firm sources products directly from dairy farms and producers.
  • It delivers dairy, bakery, poultry, and farm produce to homes.
  • The model relies on direct-to-consumer logistics and supply chain.
  • It currently serves 1.5 million customers across India.
  • Operations cover more than 25 cities including Delhi NCR.
  • Bengaluru and Chandigarh are key markets for its services.
  • Revenue grew 50% to ₹1,380 crore in FY24.
  • The company launched a quick commerce pilot in Gurugram.
  • This pilot offers 10-15 minute delivery times for orders.

What happens next

  • The company continues to expand its quick commerce pilot in Gurugram.
  • It aims to compete with rivals like Zepto and Blinkit.
  • Further growth depends on scaling operations beyond current 25 cities.

The deal

Type
debt

Investors

  • Alteria Capital (lender) — Provided debt funding via non-convertible debentures.
  • Temasek (lead investor) — Largest external stakeholder holding 13.63% post-Series E.

Founders

  • Chakradhar Gade, co-founder
  • Nitin Kaushal, co-founder

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