Country Delight Secures Record ₹200 Crore Venture Debt from Alteria Capital
- ByStartupStory | November 1, 2024
Direct-to-home food essentials brand Country Delight has secured ₹200 crore in venture debt funding from Alteria Capital. Announced today, this transaction marks the largest domestic venture debt deal to date, underscoring the growing demand and investor confidence in India’s fresh produce and dairy sector.
The infusion of capital will enable Country Delight to accelerate its expansion plans, invest in capacity building, and enhance its brand marketing initiatives. Known for its subscription-based model, the company currently serves around 1.5 million users across 15 cities, delivering fresh dairy and produce directly to consumers’ doorsteps. Recently, Country Delight rolled out a marketing campaign featuring popular Andhra film star Chiranjeevi to bolster brand visibility. Additionally, the company facilitated a secondary exit for one of its early investors earlier this year, demonstrating its commitment to both growth and investor returns.
Founded in 2015 by IIM Indore alumni Chakradhar Gade and Nitin Kaushal, Country Delight has emerged as India’s largest new economy player in the milk products and fresh produce segment. CEO Chakradhar Gade shared that the company is gearing up for an initial public offering (IPO), marking a significant milestone in its journey toward nationwide reach and public market listing.
Alteria Capital, a venture debt fund managing assets worth $550 million, sees this investment as a strategic step to support Country Delight’s nationwide ambitions. Vinod Murali, Co-founder and Managing Partner at Alteria Capital, commented on the partnership, highlighting the strengths of Country Delight’s model: “The company’s strong operating foundation and potential to access capital markets were key factors in our decision to invest. We believe in Country Delight’s capability to redefine the fresh produce and dairy sector across the country.”
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