Country Delight is a Dairy startup based in Gurugram that has raised $9 million in a debt and equity round led by Alteria Capital. This is the second time the startup had a funding round. This round was led by Alteria Capital and had the participation of other investors, including Venturi partners, Seviora Capital, and others.
The board at Country Delight has approved a resolution to allot 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 CCPS at an issue price of Rs 21,045 each to raise $9 million. The fund will be used to scale up operations, meet market demand, and for working capital purposes. Nitin Kaushal and Chakradhar Gade made this startup to provide dairy products and a grocery delivery platform. The app uses various technologies to offer its customers with a variety of products. This investment shows the trust of Alteria Capital in the country delight’s market potential and business model.
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The startup claims to offer its customers high-quality, pure, unadulterated, and fresh products. Last year, the company secured $20 million in its series E round from Seviora Capital, Temasek, Venturi Capitals, and others. Entrackr reported that the company was valued at $820 million in its last equity round, and is close to becoming a unicorn. Country Delight has secured a total of $175 million fund to date. The startup intends to use this amount to scale up its in-house infrastructure, hire teams for business development, expand to the global market, and advance its technology. The company claims to provide its products directly from dairy farms. The startup offers services in 15 cities including Delhi NCR, Mumbai, Bengaluru, and Chennai.
The company will be using this fund to strengthen its online presence and expand across the country. TheKredible reported that after this round, Orios Venture Partners held the largest stake with 21.35 percent. Fintrckr predicted its revenue to be around Rs 900 crore. The startup competes with Akshayakalpa Organic and others in the same market.
Conclusion:
Country Delight has secured funding of $9 million in its debt and equity round led by Alteria Capital. The round had participation from various new and existing investors including Venturi partners, and Seviora Capital. The board at Country Delight has approved a resolution to allot 70,000 debentures at an issue price of Rs each and 3.,160 CCPS at an issue price of Rs 21,045 each to raise $9 million. The startup offers a range of dairy products including poultry, bakery goods, and farm produce. Country Delight has secured a total of $175 million fund to date. This investment shows the trust of its investors in Country Delight’s market potential and business model. The startup competes with Akshayakalpa Organic and others in the same market. Country Delight intends to use this amount to scale up its in-house infrastructure, hire teams for business development, expand to the global market, and advance its technology.
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