Country Delight aims to raise $100 million
Country Delight, a Gurugram-headquartered D2C dairy and fresh food company, is reportedly in preliminary discussions to raise up to $100 million in a combination of primary and secondary transactions. The firm has appointed Avendus Capital to oversee the funding process, which is expected to be completed within the next 3-6 months.
This potential funding round comes after an extension of $25 million in its Series E round raised in the last month from Temasek, that valued the firm at more than $820 million. Country Delight raised ₹200 crore (~$24 million) as debt from Alteria Capital during October 2024. The company, over the period, has raised around $200 million across 18 rounds of funding, where investors have participated in the forms of Matrix Partners, Elevation Capital, Orios Venture Partners, and Venturi Partners.
Country Delight was founded in 2015 by Chakradhar Gade and Nitin Kaushal, both alumni of IIM Indore. It currently has its presence in over 25 Indian cities and serves over 1.5 million customers. The company provides a subscription model providing fresh dairy items, bakery, poultry, and farm products right at the consumers’ doorsteps. Country Delight had recorded a revenue of ₹1,380 crore during FY24, up by 46% compared to the same period last year.
The firm has also forayed into the quick commerce space with a pilot of 10–15-minute delivery in Gurugram, planning to take it to other cities. This makes Country Delight compete with old-timers like Zepto, Blinkit, and Swiggy Instamart in the fast-expanding instant delivery segment.
As Country Delight expands its operations and widens its product lines, the expected $100 million funding round should drive its supply chain strength and fuel its expansion into new markets.
