In late October, Alteria Capital provided Country Delight, an online milk and grocery delivery startup, with Rs 200 crore (US$24 million) in venture debt, highlighting a growing trend as equity funding declines. Other companies, like Ather Energy, have also turned to venture debt to support their growth plans. The venture debt market in India has expanded from 1-2% of total funding a decade ago to about 6-7% now, although still lagging behind the US market. Despite the increasing interest, the reliance on venture capital remains a challenge, especially as VC funding has significantly decreased in 2024.