Country Delight to raise $25 Mn from Temasek

Entrackr · 27d

Gurugram-based dairy and daily essential brand Country Delight is raising Rs 212.5 crore (approximately $25 million) in its Series E round from Temasek. This is the first equity round for the company in 2025. The board at Country Delight has passed a special resolution to issue 1,00,974 Series E compulsory convertible preference shares to Temasek through (V-Sciences Investments Pte Ltd) to raise Rs 212.5 crore or ($25 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. The proceeds will be used to meet the company’s working capital needs and other business requirements, according to filings. Entrackr estimates that Country Delight’s post-money valuation stood at $820 million, reflecting a flat valuation. The firm had raised $20 million in a pre-Series E round last year at a similar valuation. In October 2024, it also secured Rs 200 crore in debt from Alteria Capital. Launched by Chakradhar Gade and Nitin Kaushal, Country Delight provides a range of dairy products, bakery goods, poultry, and farm produce to its customers. The company sources its products directly from dairy farms and caters to 1.5 million customers. It currently operates in more than 25 cities, including Delhi NCR, Bengaluru, and Chandigarh. According to startup data intelligence platform TheKredible, Country Delight had raised $220 million to date—including both debt and equity—prior to this round. Temasek remains the company’s largest external stakeholder, holding a 13.63% stake post-allotment. Country Delight recently entered into the quick commerce fray and launched a pilot for its 10-15 minute delivery service in Gurugram. With these offerings, the firm will also compete with players like Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now. The daily essential platform has not reported its financial numbers for FY24 officially. As per a report by The Arc, Country Delight posted a revenue of Rs 1,380 crore in FY24, surging 50% from Rs 917 crore in FY23, while incurring a loss of Rs 260 crore during FY23.