Country Delight Secures Rs 200 Cr From Alteria Capital

Direct-to-consumer dairy startup Country Delight has raised Rs 200 crore (approximately USD 25 million) in venture debt from Alteria Capital, aimed at bolstering its expansion, capacity building, and brand marketing initiatives.

Country Delight reported a significant revenue growth of Rs 1,380 crore in FY24, marking a 46 per cent increase from the previous year. This surge is attributed to a rise in subscribers and increased sales of non-dairy items, including fruits, vegetables, eggs, and pulses. The startup has yet to submit its audited results.

The company has established a robust distribution network that ensures reliable home deliveries of high-quality dairy products. Founded in 2015 by Gade and Nitin Kaushal, Country Delight operates under a daily subscription model, serving fresh cow and buffalo milk, curd, ghee, paneer, bread, and eggs to nearly 1.5 million users across 15 cities in India.

Having raised around USD 200 million in 18 funding rounds, the startup is currently valued at just over USD 800 million, as per media reports. Its investor portfolio includes notable names like Matrix Partners and Temasek.

This latest funding marks Alteria’s third investment in Country Delight this year, following a Rs 70 crore debt raise in August and a Rs 76 crore round in May. Earlier in the year, the startup also secured USD 20 million in its series E round, facilitating a substantial secondary exit for an earlier investor.

Alteria Capital, one of India's largest venture debt providers, manages a corpus of approximately Rs 4,400 crore across three funds and has backed over 200 startups, including Rebel Foods, Spinny, and Ola Electric.