Country Delight, an emerging leader in the direct-to-consumer space in India, has successfully raised $76.65 million through the issuance of debentures and compulsorily convertible preference shares. This latest round of funding, overseen by the board's approval of 70,000 debentures at INR 1,00,000 each and 3,160 Series E1 CCPS at INR 21,045 each, brings Country Delight closer to achieving unicorn status, with its valuation nearing $820 million.

Earlier in the year, Country Delight had raised $20 million in a Series E round from heavyweight investors including Temasek and Venturi Partners. The company, founded in 2013 by Chakradhar Gade and Nitin Kaushal, has significantly expanded its product line to include dairy items, bakery goods, poultry, and farm produce, all sourced directly from farms to ensure freshness and quality.

The company, which operates in 15 major cities across India, including Delhi NCR, Mumbai, and Bengaluru, has reported a substantial 66% increase in operating revenue year-over-year, reaching INR 900 crore in FY23. This growth highlights Country Delight's effective subscription-based model and its commitment to delivering high-quality, fresh products directly to consumers.

This funding round marks the second significant investment in Country Delight for the year, reinforcing the strong confidence investors have in its business model and growth trajectory. The investment from Alteria Capital, through its recently closed third venture debt fund, underscores the firm's strategic commitment to supporting high-potential startups.