[Funding Alert] D2C dairy and food Essentials brand Country Delight bags $108 Mn Series D funding

Country Delight

D2C food essentials brand, Country Delight has raised $108 Mn in Series D round led by Nicholas Cator-founded Venturi Partners and Singaporean private equity major Temasek, at a valuation of $615 Mn.

The participation of Asia-focused SWC Global and homegrown PE firm Trifecta Capital was also witnessed with them bringing in fresh investment. Existing investors, IIFL Asset Management, Elevation Capital, Orios Venture Partners and Matrix Partners also participated to infuse 30% of the total investment.

Founded in 2013 by IIM Indore batchmates Chakradhar Gade and Nitin Kaushal, Country Delight was started with the aim to deliver fresh food essentials such as milk and dairy products to the doorstep of consumers. It uses a tech-first approach to solve supply chain and distribution problems.

The startup has now expanded to fruits and vegetables as well. Their business model ensures fresh farm-to-home deliveries within 24-36 hours from sourcing, facilitated by a fully integrated just-in-time supply chain model.

“Country Delight is now looking at becoming a leading natural food essentials business where we are looking to widen our product portfolio to cover all the food essentials a kitchen needs on a daily basis,” Chakradhar Gade, co-founder, Country Delight, said in an interaction with VCCircle.

The CEO also revealed the company’s plan to broaden its categories by starting to deal in pulses, grains, spices, oils, pickles and basic snacking items.

The Gurugram-based firm had raised $25 Mn in its Series C round of funding led by Elevation Capital, formerly SAIF Partners, in November 2020. The latest fund raise is part of the $65 million tranche raised in March, taking the company’s total funding to $147 million so far.

Rishika Chandan, Executive Managing Director at Venturi Partners, said, “Country Delight is solving a very real problem at scale. Quality consciousness in India is on the rise. The brand’s focus on offering farm-to-doorstep daily pantry essentials that are fresh and of the highest quality has resulted in immensely positive customer feedback and strong loyalty.”

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