Country Delight, a Gurugram-based dairy and daily essentials D2C brand has successfully raised Rs 200 crore in venture debt from Alteria Capital. This funding includes Rs 140 crore received across two tranches in May and August. The funds will bolster Country Delight’s growth ambitions, focusing on expansion, capacity enhancement, and strategic brand marketing efforts.
Chakradhar Gade, co-founder and CEO of Country Delight, emphasized the significance of diversifying capital sources as the company scales up. “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,” Gade stated in the company’s press release.
Founded by Gade and Nitin Kaushal, Country Delight offers an array of fresh dairy products, bakery goods, poultry, and farm produce, all sourced directly from farmers to ensure high-quality standards. The company’s customer base has grown to 1.5 million across 15 cities, including major metros such as Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.
The brand’s growth trajectory has positioned it on the brink of achieving unicorn status, with a valuation nearing $820 million following its last equity funding round. Country Delight has raised approximately $200 million in total funding to date. For the fiscal year FY24, the company posted a robust revenue of Rs 1,380 crore, a notable increase from Rs 900 crore in FY23 and Rs 542.6 crore in FY22, according to The ARC. The company is yet to officially confirm the figures for FY23 and FY24.
Country Delight competes in the evolving dairy and farm-to-home delivery space, facing challengers such as Stellapps—which recently closed a $26 million Series C funding round—along with Akshayakalpa, Sid’s Farm, Milky Mist, and Otipy.
This latest venture debt injection is expected to propel Country Delight further into its growth phase, positioning the company strategically for an upcoming IPO while strengthening its foothold in India’s burgeoning dairy and essentials market.
