Country Delight, a direct-to-consumer (D2C) fresh foods brand, has raised USD 108 million in a funding round led by Venturi Partners and Temasek.
With the latest funding round, Country Delight has cumulatively raised USD 147 million to date, without disclosing the purpose for which the fresh funds will be used. The current round takes the company’s valuation to USD 615 million.
According to the report published in a leading daily – The company will utilize the funding for geographical expansion, enter new product categories and deepening its existing product portfolio.
The Series D funding had participation from SWC Global and Trifecta Capital. Existing investors, IIFL Asset Management, Elevation Capital, Orios Venture Partners and Matrix Partners also participated in this round.
Started in 2015, Country Delight is a bunch of Engineers and IIM Graduates who aim to bring back the basics of Milk. The company promises natural, fresh and unadulterated milk directly to the doorstep of the consumer. Consumer ordering and servicing happens through a first-of-its-kind mobile application that completely takes away the hassle of managing ones milk requirements.
Commenting on the latest funding round, Chakradhar Gade, CEO & Co-founder and Nitin Kaushal, COO & Co-founder, Country Delight, said, “Country Delight is on a mission to disrupt the decades-old Indian food essentials space. At Country Delight, we have taken a tech-driven and consumer-centric approach to solving this problem by delivering natural, fresh and minimally processed food essentials, sourced directly from farmers present across the country and deliver to the doorstep of consumers every single day.”
According to the company, India’s fresh food and staples market is expected to cross $50 billion by 2025. Today, over 60 percent of the fresh foods market is unorganised with limited cold storage capabilities, a fragmented logistics chain and inadequate visibility of product quality across the supply chain.