Country Delight Secures INR 200 Cr Venture Debt from Alteria Capital to Fuel Expansion With the raised funds, the brand aims to fuel the company's expansion, increase capacity, and drive brand marketing efforts.
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Country Delight, a Gurugram-based direct-to-consumer (D2C) fresh foods brand, announced that it has raised INR 200 crore in venture debt from Alteria Capital to support its rapid expansion and brand-building efforts.
The funding is set to help the company increase capacity, expand operations, and strengthen its market position as it prepares for a future initial public offering (IPO).
"We are focused on scaling our operations efficiently by leveraging diverse capital sources. This new funding phase sets us up for accelerated growth," said Chakradhar Gade, CEO and co-founder of Country Delight.
Founded in 2015 by Chakradhar Gade and Nitin Kaushal, the company delivers daily essentials like milk, ghee, paneer, fruits, and vegetables directly to customers' doorsteps through a subscription model.
Currently, it serves over 1.5 million users across 15 cities in India, including major hubs such as Mumbai, Delhi-NCR, Bengaluru, Chennai, and Hyderabad.
Country Delight received INR 140 crore in debt in two tranches in May and August, following a USD 20 million equity round earlier this year. The brand also offers grocery staples like pulses, flour, and cereals, competing with platforms like BigBasket, Zepto, and Blinkit.
Vinod Murali, Co-founder of Alteria Capital, highlighted, "As the business expands, it is necessary to invest in capacity building across different pockets to improve efficiency in the business. In this context, debt is ideally suited to meet these expansion requirements. We are investing further in Country Delight since the company is very well placed to capitalise on its strong operating foundation and access capital markets on a path to eventual listing."
