Country Delight Raises Rs 212.5 Crore in Series E Funding Round
Country Delight, a prominent dairy and daily essential brand based in Gurugram, is raising Rs 212.5 crore (around $25 million) in its Series E funding round from Temasek. This marks the company’s inaugural equity round in 2025.
The board at Country Delight has authorised a special resolution to issue 1,00,974 Series E compulsory convertible preference shares to Temasek through V-Sciences Investments Pte Ltd, as indicated by its regulatory filing accessed from the Registrar of Companies (RoC).
The funds raised will be allocated to the company’s working capital requirements and other business needs, as detailed in the filings. Startup Superb estimates that Country Delight’s post-money valuation is approximately $820 million, suggesting a static valuation. The firm previously raised $20 million in a pre-Series E round last year at a similar valuation.
In October 2024, the company secured Rs 200 crore in debt from Alteria Capital.
Founded by Chakradhar Gade and Nitin Kaushal, Country Delight offers a variety of dairy products, bakery items, poultry, and farm produce to its consumers. The company sources its products directly from dairy farms and serves around 1.5 million customers spread across more than 25 cities, including Delhi NCR, Bengaluru, and Chandigarh.
According to various sources from a startup data intelligence platform, Country Delight has raised a total of $220 million to date, encompassing both debt and equity prior to this latest funding round. Temasek continues to be the largest external stakeholder in the company, possessing a 13.63% stake after the allotment.
Recently, Country Delight ventured into the quick commerce sector by launching a pilot for its 10-15 minute delivery service in Gurugram. With this new offering, the company aims to compete with other players such as Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now (formerly Amazon Tez).
The daily essential platform has not yet officially disclosed its financial figures for FY24. However, a report by The Arc suggests that Country Delight achieved a revenue of Rs 1,380 crore in FY24, marking a 50% increase from Rs 917 crore in FY23, while enduring a loss of Rs 260 crore during FY23.