Country Delight Secures $9 Million Through Debt and Equity
Summary
Dairy brand Country Delight has successfully raised Rs 76 crore ($9 million) through a combination of debt and equity from Alteria Capital. This news is first reported by Entrackr.According to regulatory filings accessed from the Registrar of Companies (RoC), the board at Country Delight has approved a special resolution to issue 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 Series E1 CCPS (Compulsorily Convertible Preference Shares) at an issue price of Rs 21,045 each, raising a total of Rs 76.65 crore.Earlier in January, Country Delight secured $20 million in its Series E round from prominent investors including Temasek, Seviora Capital, Venturi Partners, and others. The company prides itself on sourcing products directly from dairy farms, ensuring quality and freshness for its customers. Country Delight serves consumers in 15 major cities across India, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.According to startup data intelligence platform TheKredible, Orios Venture Partners holds the largest stake in Country Delight with 21.35%, followed by Matrix Partners and Elevation Capital with stakes of 16.59% and 9.38% respectively. The company has yet to officially report its FY23 numbers.Country Delight faces competition from firms like Akshayakalpa Organic, which raised $12 million in its Series C round led by A91 Partners in January.
Funding
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