Gurugram-based D2C food essential brand Country Delight is set to raise USD 25 million (~INR 214 crore) from Singapore’s sovereign wealth fund Temasek. This is the company’s first funding in 2025, as per regulatory filings accessed via the Registrar of Companies (RoC).
Country Delight’s board passed a special resolution to issue 1,00,974 Series E compulsory convertible preference shares at an issue price of INR 21,045 each to Temasek through its investment arm, V-Sciences Investments Pte Ltd. This funding round values the company at approximately USD 820 million (INR 7,025 crore), at the same valuation as its pre-Series E round in 2024.
Funding Footprint
This is the second equity funding for Country Delight in 2024 after a big debt raise of INR 200 crore from Alteria Capital in October 2024, the largest domestic venture debt transaction till date. According to Alteria Capital, these funds will be used for capacity building, expansion and marketing.
Co-founder and CEO of Country Delight, Chakradhar Gade said, “As we scale up and get ready for our IPO, it’s important to improve efficiency through capacity building and debt is ideal for such expansion requirements.”
Growth Trajectory and Presence
Country Delight, founded in 2013 by Chakradhar Gade and Nitin Kaushal, has grown into a strong player in the D2C food essentials space. The company delivers dairy products, bakery goods, poultry and fresh farm produce to customers. Today it serves around 1.5 million customers across 25+ cities, including Delhi NCR, Bengaluru and Chandigarh.
Country Delight’s foray into quick commerce is a testament to its growth strategy. The company recently piloted a 10-15 minute delivery service in Gurugram, entering a competitive space with biggies like Zepto, Blinkit, Swiggy, Flipkart and Amazon Now.
Temasek’s Stake and Investment History
Temasek is the largest external investor in Country Delight with a 13.63% stake post this allotment. The company had raised USD 220 million (~INR 1,884 crore) in debt and equity funding before this round. This is Temasek’s continued confidence in the company’s fundamentals and growth in India’s dairy and daily essentials space.
Future Outlook
With peers like Mother Dairy also aggressively expanding, recently announcing INR 650 crore investment into new processing plants, Country Delight’s fundraising and quick commerce push highlight the intensifying competition and opportunities in this sector.
As Country Delight advances toward its IPO and continues scaling operations, this USD 25 million funding from Temasek is set to fuel its ambitions, strengthen its market position, and accelerate innovation in consumer delivery models.
In an increasingly competitive and fast-paced market, all eyes are on Country Delight as it prepares for its next phase of growth and transformation.
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