Temasek is funding Gurugram-based Country Delight, a dairy and daily essentials business, raise Rs. 212.5 crore, or roughly $25 million, in its Series E financing. This is the company's first equity round in 2025.
According to its regulatory filing obtained from the Registrar of Companies (RoC), the board of Country Delight has passed a special resolution to issue 1,00,974 Series E compulsory convertible preference shares to Teamsek through at an issue price of Rs. 21,045 each, raising Rs. 212.5 crore or $25 million.
According to papers, the cash will be utilized to cover the company's working capital needs as well as other operational requirements. According to Entrackr's estimations, Country Delight had a flat post-money valuation of $820 million. Last year, the company received $20 million at a comparable valuation in a pre-Series E deal.
It also obtained Rs. 200 crore in financing from Alteria Capital in October 2024.
Country Delight, which was founded by Chakradhar Gade and Nitin Kaushal, offers its users a variety of dairy products, baked goods, poultry, and farm produce. The company serves 1.5 million clients and sources its products directly from dairy farms. At the moment, it works in over 25 cities, such as Chandigarh, Bengaluru, and Delhi NCR.
Prior to this round, Country Delight had raised $220 million, including loan and equity, according to startup data intelligence platform TheKredible. With a 13.63% post-allotment share, Temasek is still the company's largest external stakeholder.
Recently, Country Delight joined the speedy commerce battle and started a test program for its delivery service in Gurugram, which takes ten to fifteen minutes. With these products, the company will also face competition from companies such as Amazon Now (formerly Amazon Tez), Flipkart Minutes, Zepto, Blinkit, and Swiggy Instamart.
