Country Delight raises $108 mn in Series D round led by Temasek, Venturi Partner
- ByStartupStory | May 25, 2022
Taking its evaluation to $615 million the D2C (direct to consumer) food essential brand Country Delight, has raised $108 million in series D round. The lastest round of fund raise is a part of $65million fund raised in March which takes the total funding of the company to $147 million till now.
This round was led by new investors like Nicholas Cator-founded Venturi Partners, Temasek a Singaporean private equity major and others where Avandus capital was acting as financial advisor to the company. IIFL Asset Management,Oreo venture partners, elevation capital and Matrix partners who are the existing investors infused 30% of the overall investment.
Founded in 2013 by Gade and Nitin kaushal who are alumnai of IIM Indore with a vision to deliver essential fresh dairy products like Milk, Paneer at the doorstep of the consumers by using a tech-first approach to solve the supply chain distribution issues.
Promoting itself with the tagline of fresh farm-to-home deliveries within 24-36 hours,i also delivers vegetables and fruits and is also planning to launch fruit yoghurts to allure it’s customers. The dairy Gurugram based firm raised around ₹185 crore led by Elevation capital in the series C round funding in November 2020.
Gade said “Currently, we are clocking a revenue of almost $120 million. We are doing about 8 million deliveries a month to 300 subscribers. We have been growing to two and a half times year-on-year. Over the last six months we’ve grown 50% in revenue,”
In the last three years the company claims to grow 10 times in scale and has served 1.5 million customers across 11 states in India.The newest fund infusion would be utilised in launching more products within the already existing category.
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