Delightful: Second debt raise of 70cr

The subscription-based dairy and grocery delivery platform Country Delight raises INR 70cr debt from Alteria Capital for the second time.

650-crore brand raised in debt

The subscription-based dairy and grocery delivery platform, Country Delight secured INR 70 crore (USD 8.45 million) in debt funding from Alteria Capital, marking the second debt infusion from the investor in 2024.
As per its regulatory filing with the Registrar of Companies (ROC), the staple delivery brand issued 7000 non-convertible debentures at INR 1,00,000 each.
This latest round follows an earlier raise in May, when Country Delight secured INR 76 crore (USD 9 million) through a combination of debt and equity from Alteria Capital.
Additionally, in January, the company closed a USD 20 million Series E funding round, achieving a valuation of approximately USD 820 million.
Country Delight has transformed is a tech-first D2C brand
Boasting of supply chain spanning across 11 states, Country Delight is a tech-first D2C brand delivering dairy food and grocery essentials directly from the farmer to the buyer doorstep and the milk delivered per month amounting to an astronomical figure which is more than 8 lakhs.
Country Delight has a stringent milk procurement process. They ensure it is fresh and free from any kind of chemicals.
This organization had always been adopting newer technologies

The Originators

Chakradhar, CEO and Co-founder, and Nitin, COO and Co-founder, batchmates from IIM Indore, worked in investing and banking respectively before bootstrapping their startup.
With no dairy background, bare minimum knowledge of milk production, a land parcel and 50 cattle, that is how the two founders began their journey around 2014.
They aspired to touch 5000 litres of milk delivered by 2016 while in 2013 they managed to produce only 200 litres in 2013 and they had already burnt 70% of their bootstrapped capital.
However, the Country Delight founders never gave up. Though it was a complex process of learning how to procure milk, deal with customer acquisition cost and repair the last mile delivery.
Moving ahead, the founders have robust plan to import farmer network and develop one-stop platform for all needs. They also have plans to explore more product varieties.

Editor’s Note

Country Delight has been a pioneer to successfully establish the farm-to-table model by eliminating the middlemen. Beating major challenges like logistics, competition and procurement, what Country Delight managed to establish is trust in the Indian minds. Indian society has always been sensitive with the milk consumed by the family as it is one of those essentials which is taken from the child to the elderly.