Country Delight, the Gurugram-based direct-to-consumer (D2C) food essentials brand, has raised USD 25 million (approximately INR 214 crore) in Series E funding from Temasek. The Singapore sovereign wealth fund invested through its entity, V-Sciences Investments Pte Ltd.
According to regulatory filings with the Registrar of Companies (RoC), the company’s board approved the issuance of 1,00,974 Series E compulsory convertible preference shares at an issue price of INR 21,045 per share. This funding values Country Delight at around USD 820 million (INR 7,025 crore), in line with its valuation from the pre-Series E round completed in 2024.
This equity infusion comes on the heels of the company’s record-setting debt raise of INR 200 crore from Alteria Capital in October 2024. At that time, funds were allocated for capacity building, geographical expansion, and marketing push.
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Commenting on the funding, co-founder and CEO Chakradhar Gade stated, “As we scale up and prepare for our IPO, building capacity and improving operational efficiency are key. Debt financing works well for these growth needs.”
Founded in 2013 by Chakradhar Gade and Nitin Kaushal, Country Delight has grown into one of India’s leading D2C food essentials providers. The company’s product offerings include dairy, bakery, poultry, and fresh produce. It serves 1.5 million customers across more than 25 cities, with major presence in Delhi NCR, Bengaluru, and Chandigarh.
The company recently expanded into quick commerce, piloting 10–15 minute delivery services in Gurugram. This positions it in direct competition with platforms like Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now.
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Following this investment, Temasek now holds a 13.63% stake in Country Delight, becoming the largest external shareholder. To date, the company has raised a cumulative USD 220 million (around INR 1,884 crore) from a combination of debt and equity investors.
The competitive landscape is tightening. Mother Dairy recently announced an INR 650 crore investment in new processing plants. Country Delight’s fresh funding and foray into faster delivery signal a strategic response to evolving market dynamics.
The new capital will support efforts to strengthen operations, enhance delivery logistics, and prepare the business for public listing. With the IPO on the horizon, execution will be key.