Country Delight Raises ₹212.5 Crore in Series E Round from Temasek
- ByStartupStory | March 26, 2025
Gurugram-based dairy and daily essentials brand Country Delight has successfully raised ₹212.5 crore (approximately $25 million) in its Series E funding round from Temasek, marking its first equity round in 2025. The regulatory filings, accessed from the Registrar of Companies (RoC), reveal that the board at Country Delight approved a special resolution to issue 1,00,974 Series E compulsory convertible preference shares at an issue price of ₹21,045 each to Temasek’s investment arm, V-Sciences Investments Pte Ltd.
The fresh infusion of capital will be utilized to meet the company’s working capital requirements and support other business needs, according to the filings.
Valuation and Funding Milestones
Following this round, Country Delight’s post-money valuation stands at $820 million, maintaining a flat valuation compared to its previous funding round. The company had raised $20 million in a pre-Series E round last year at a similar valuation.
In October 2024, the company secured ₹200 crore in debt from Alteria Capital, further strengthening its financial position.
According to data from startup intelligence platform TheKredible, Country Delight had raised $220 million to date—including both debt and equity—prior to this round. With this latest allotment, Temasek remains the company’s largest external stakeholder, holding a 13.63% stake.
Growth and Expansion Plans
Founded by Chakradhar Gade and Nitin Kaushal, Country Delight offers a wide range of products, including dairy items, bakery goods, poultry, and farm produce, catering to 1.5 million customers. The company directly sources products from dairy farms and operates in over 25 cities, including Delhi NCR, Bengaluru, and Chandigarh.
Recently, the company ventured into the quick commerce segment, launching a pilot for its 10-15 minute delivery service in Gurugram. This move places Country Delight in direct competition with established players such as Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now (formerly Amazon Tez).
Financial Performance
While Country Delight has not officially disclosed its FY24 financial results, reports from The Arc indicate that the company posted ₹1,380 crore in revenue for FY24, marking a 50% year-over-year growth from ₹917 crore in FY23. However, the company incurred a loss of ₹260 crore during FY23.
About Country Delight
Founded in 2015, Country Delight has grown into a major player in the dairy and daily essentials market. With its focus on farm-to-doorstep delivery and commitment to fresh, unadulterated products, the company continues to expand its presence in India’s growing consumer market.
Follow Startup Story
Related Posts
