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Country Delight to raise $25 Mn from Temasek
Entrackr
·
4m ago
Medial
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.
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Exclusive: Country Delight raises $9 Mn through debt and equity
Entrackr
·
1y ago
Medial
Dairy brand Country Delight has raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. This is the second funding for the Gurugram-based company this year. The board at Country Delight has passed a special resolution to issue 70,000 debentures at an issue price of Rs 1,00,000 each and 3,160 Series E1 CCPS at an issue price of Rs 21,045 each to raise Rs 76.65 crore, its regulatory filing accessed from RoC shows. In January, Country Delight raised 20 million in its series E round from Temasek, Seviora Capital, Venturi Partners, and others. The company is close to becoming a unicorn as it was valued at around $820 million in the last equity round. It has raised around $175 million to date. 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 customers in 15 cities including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune. As per startup data intelligence platform TheKredible, Orios Venture Partners was the largest stakeholder in Country Delight with 21.35% stake followed by Matrix and Elevation with 16.59% and 9.38% stake respectively. In February, Orios Venture Partners made a partial exit from Country Delight by selling 3% stake for around Rs 225 crore. Orios sold its stake to Temasek-backed asset management group Seviora. As per media report, Country Delight’s operating revenue stood at Rs 650 crore in the first half of the ongoing financial year (FY24). In FY23, its revenue was estimated at around Rs 900 crore against Rs 542.6 crore in FY22. The firm is yet to report FY23 numbers officially. In January, Country Delight’s competitor Akshayakalpa Organic raised $12 million in its Series C round led by A91 Partners. The firm is in talks to close a larger round to the tune of $25 million.
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Temasek-backed Country Delight eyes new PE funding
VCCircle
·
1y ago
Medial
Temasek-backed direct-to-consumer food brand, Country Delight, is seeking new funding, potentially in the form of its Series F financing. The Gurugram-based company, Beejapuri Dairy Pvt Ltd, plans to raise $75 million to $100 million in this round.
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Country Delight raises $20 Mn in Series E round
Entrackr
·
1y ago
Medial
Dairy brand Country Delight has secured $20 million in a Series E funding round led by Temasek, with participation from Seviora Capital and Venturi Partners. The Gurugram-based startup, which offers a variety of dairy products, bakery goods, poultry, and farm produce, plans to use the funds to expand its operations. The company has been valued at approximately $819 million after the funding round. Country Delight has raised a total of $300 million across various rounds. In FY22, its revenue grew by 69.2% to INR 543 crore, but its losses also increased significantly.
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Orios Venture Partners sells about 3% stake in Country Delight for about Rs 225 crore
Economic Times
·
1y ago
Medial
Orios Venture Partners has sold approximately 3% stake in Country Delight, a D2C fresh food brand, for around Rs 225 crore. The stake was sold to Seviora, an asset management group backed by Temasek. Orios had previously invested Rs 15 crore in Country Delight. The company recently raised around $20 million in a funding round led by Temasek, valuing it at approximately $820 million. Orios Venture Partners has also invested in other companies like PharmEasy, Vedantu, and CarDekho.
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Temasek, Country Delight backer Seviora raise $173 mn for Asia agri-food bets
VCCircle
·
1y ago
Medial
Singapore's state investment firm, Temasek, and its subsidiary, Seviora, have announced a partnership to invest in agri-food companies in the Asia Pacific region. Through Seviora's "T3F Strategy," a total of $173 million was raised from various investors, including Japan's Norinchukin Bank. Seviora, managing $52 billion in assets, plans to secure more capital for this strategy that focuses on investing in promising agri-food companies. In January, Seviora invested $17 million in India's online food delivery brand, Country Delight.
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Country Delight raises Rs 200 crore in debt from Alteria Capital
Economic Times
·
9m ago
Medial
Country Delight, a direct-to-consumer fresh foods brand, has secured Rs 200 crore in venture debt from Alteria Capital. The funds will be used for expansion, capacity increase, and brand marketing as the company prepares for its IPO journey. Country Delight, which offers delivery of fresh food essentials through a daily subscription model, serves 1.5 million users across 15 Indian cities. The company had previously raised Rs 164 crore in equity funding from Temasek and has a valuation of $804 million. Venture debt is becoming popular among growing companies looking to finance expansion without diluting equity.
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Country Delight To Become Profitable In The Next 8-10 Months: Cofounder Chakradhar Gade
Startup News FYI
·
1y ago
Medial
Indian dairy tech startup Country Delight, which provides fresh dairy products to subscribers in 15 cities, plans to achieve profitability within the next 8-10 months. Despite a 1.6x year-on-year increase in revenue to INR 542.6 crore (approximately $72.9 million) in FY22, the company reported a 6.5x year-on-year increase in net loss to INR 186.4 crore (approximately $25 million) due to rising expenses. Country Delight focuses on delivering high-quality products, building customer loyalty, and improving customers' lives.
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Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight
Entrackr
·
1y ago
Medial
Dairy brand and daily essential brand Country Delight has raised Rs 70 crore ($8.45 million) in debt from Alteria Capital. This is the second debt infusion from the investor in the Gurugram-based firm in 2024. The board at Country Delight has issued 7000 non-convertible debentures (NCDs) at an issue Price Rs 1,00,000 each to raise Rs 70 crore ($8.45 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. In May, Country Delight raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. Prior to that, it scooped up $20 million as a part of Series E round in January this year. The company was valued at around $820 million during the equity round. The Chakradhar Gade-led company also saw a secondary transaction in February when Orios Venture Partners made a partial exit by selling 3% stake to Temasek for around Rs 225 crore ($27 million). It was one of the multi-bagger exits for the early-stage VC firm, which also made substantial returns on its investments in BatterySmart. Country Delight is a dairy and grocery startup that offers the delivery of milk, milk products, fruits and vegetables on a subscription basis. The platform engages directly with the farmers without middlemen. It’s operational in Delhi (NCR), Mumbai, Bengaluru, and Chennai, among others. Country Delight’s operating revenue reportedly stood at Rs 650 crore ($78 million) in the first half of the last financial year (FY24). The company is likely to post a significant jump in FY24 from the estimated revenue of Rs 900 crore ($108 million) in FY23. The firm is yet to report FY23 and FY24 numbers officially. Check startup data intelligence platform TheKredible for country Delight’s latest shareholding and funding round breakups. It competes with Akshayakalpa, Milk Mantra, Sid’s Farm and Otipy, among others. While Akshayakalpa already raised $12 million as a part of a larger round in January, Sid’s Farm raised $10 million in Series A in June. Otipy is closing a $10 million round from new and existing investors. Entrackr exclusively reported the development last month.
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Orios Venture Partners reaps multibagger returns in partial exit
VCCircle
·
1y ago
Medial
Orios Venture Partners, an early-stage venture capital firm, has achieved significant returns on its investment through a partial exit. The firm, which has invested in companies like Country Delight, BeatO, ixigo, and PharmEasy, made the exit from a four-year-old investment. Currently investing from its third fund with a target corpus of $120 million, Orios is looking to raise additional funds for future investments.
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Dairy Brand Sid’s Farm Raises $10 Mn Week After Roping In New CTO
Inc42
·
1y ago
Medial
Sid's Farm, a Telangana-based D2C dairy startup, has raised $10 million in Series A funding from Omnivore and Narotam Sekhsaria's family office. The funding will be used for manufacturing, team building, and expansion in Hyderabad and Bengaluru. The company, which recently appointed Sunil Potturi as CTO, competes with brands like Country Delight and Akshayakalpa, serving 20,000 daily customers.
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