Shadine Taufik · · 1 min readTemasek co-leads $108m round of Indian fresh food D2C firm
Country Delight, an India-based direct-to-consumer food essentials brand, has raised US$108 million in a series D round led by Venturi Partners and Temasek.
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This round takes the company’s valuation to US$615 million, Country Delight CEO and co-founder Chakradhar Gade told Tech in Asia.
The Gurugram-based startup previously raised US$25 million in November 2020.
According to Country Delight, over 60% of India’s fresh food market is poorly organized, with a fragmented logistics chain, a lack of cold storage, and insufficient product quality transparency. The company aims to solve this by delivering farm-fresh fruits, vegetables, and dairy products to consumers instantly.
Founded by Gade and Nitin Kaushal in 2013, Country Delight’s tech-enabled supply chain allows users to receive goods within 24 to 36 hours from when they were sourced. With 1.5 million customers throughout India, the D2C firm has grown 10x in scale within the last three years, it claimed.
The company expects India’s fresh food and staples market to cross US$50 billion by 2025.
Other investors who participated in the new round include:
- Trifecta Capital
- SWC Global
- IIFL Asset Management
- Elevation Capital
- Orios Venture Partners
- Matrix Partners
See also: These are the most active investors in India’s startups
Editing by Samreen Ahmad and Joy Tirkey
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