Dairy brand Country Delight raises $20M led by new and existing investors

Gurugram-based dairy brand Country Delight has raised approximately $20 million (Rs 165 crore) in its latest Series E funding round led by both existing and new investors.

Who are the investors?

Singapore's Temasek led the round with a Rs 78 crore investment. New investor Seviora Capital, an Asia-centric firm based in Singapore, invested Rs 58 crore.

Additionally, existing investor Venturi Partners contributed Rs 29 crore.

What does Country Delight do?

Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight has established itself as a prominent player in the dairy sector.

The company operates on a full-stack subscription model, managing everything from cow farms to the delivery of milk and other dairy essentials. 

It has expanded its offerings to include fruits, vegetables, and other fresh groceries, promising delivery within 24-36 hours directly from farms.

Country Delight's operations currently span across 15 cities, including Delhi (NCR), Mumbai, Bengaluru, Jaipur, Chennai, and Pune.

Focused on expansion 

Country Delight has identified significant growth potential in India's fresh food and staples market, expected to surpass $50 billion by 2025.

Over 60% of this market remains unorganized, presenting a substantial opportunity for structured and quality-focused players like Country Delight. 

It aims to address the challenges of fragmented logistics and inadequate visibility in product quality across the supply chain.

How well Country Delight is performing financially?

According to media reports, Country Delight's revenue from operations rose 69% to Rs 453 crore in FY22.

However, the company also witnessed a substantial increase in losses, which escalated over sixfold to Rs 186 crore in FY22, compared to Rs 28 crore in FY21.