Country Delight Revenue, Valuation, Funding & Investors

Country Delight is valued at $820M as of March 2025, a 5.5x multiple on its last reported $148M revenue.

Last Country Delight valuation

$820M

Series E · Mar 2025

Last Country Delight funding round

$25M

Series E · Mar 2025

Country Delight revenue

$148M

Series E · Mar 2025

Key investors in Country Delight

  • Orios Venture Partners
  • Temasek
  • Z47
  • Elevation Capital
  • Alteria Capital
  • 360 ONE Asset

Country Delight Overview

About Country Delight

Country Delight is a direct-to-consumer dairy delivery service operating in major Indian cities like Delhi, Gurugram, and Bengaluru. It sources milk from over 6,000 partner farms, processes it at facilities in Sonipat and Manesar, and delivers fresh products including toned milk, paneer, yogurt, and ghee via a mobile app. Launched in 2017, the Gurgaon-headquartered company ensures chemical-free supply through farm-to-doorstep logistics with daily subscriptions.


Founded

2015

HQ

IndiaGurgaon

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Revenue

$148M (Mar 2025)

Valuation

$820M (Mar 2025)

Country Delight Valuation

Country Delight is currently valued at $820M, based on its Series E in March 2025.

The $25M round was led by Temasek.

Country Delight's valuation has grown 1.4x from $580M at its Series D in March 2022 to $820M in March 2025, across 4 priced rounds.

Country Delight valuation by funding round

Revenue multiple
Country Delight valuation by funding round
DateStageValuationRevenue Multiple
Mar 2025Series E$820M5.5x
Jan 2024Series E$820M5.5x
May 2022Series D$615M-
Mar 2022Series D$580M-

Country Delight Revenue

Country Delight's latest recorded revenue is $148M, as of its Series E in March 2025. At a $820M valuation, that implies a 5.5x revenue multiple.

Revenue moved from $148M in January 2024 to $148M in March 2025, while the revenue multiple moved from 5.5x to 5.5x.

Country Delight revenue by funding round

Country Delight revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2025$148M$820M5.5xSeries E
Jan 2024$148M$820M5.5xSeries E

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Country Delight Funding History

Country Delight has raised a total of $212M across 13 funding rounds.

Country Delight's first fundraising round was a $100K angel round in August 2015. The most recent completed round was a $25M Series E in March 2025.

Country Delight funding rounds

Country Delight funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2025Series ETemasek (lead)$25M$820MCountry Delight is a Gurugram-based dairy and grocery delivery startup founded in 2015 by IIM Indore graduates Chakradhar Gade and Nitin Kaushal. It operates as a vertical ecommerce platform delivering milk, fruits, vegetables, and other groceries via a subscription model to nearly 1.5 million users across 15-17 cities, including Tier II towns like Vijayawada, Warangal, and Guntur. The company has expanded into quick commerce with a 10-15 minute delivery pilot in Gurugram, competing with Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now, as well as established players like BigBasket, Milkbasket, and Milk Mantra. In March 2025, Country Delight raised Rs 212.49-212.5 crore (approximately $25 million) in its Series E equity funding round from V-Sciences Investments Pte Ltd, backed by lead investor Temasek Holdings. The board approved issuing over 100,000-1 lakh Series E compulsorily convertible preference shares at Rs 21,025-21,045 apiece. This marks the company's first equity raise of 2025, following Rs 200 crore debt from Alteria Capital in October 2024 and $20 million equity from Temasek and Venturi Partners in January 2024. Post-money valuation is estimated at $820 million, consistent with the prior round, with Temasek now holding a 13.63% stake as the largest external shareholder. Funds are allocated for working capital requirements, other business operations, and a miscellaneous project to support expansion in the dairytech and quick commerce sectors. Country Delight has raised over $250 million total in debt and equity from investors including Elevation Capital and 360 ONE Asset.
May 2024Series EAlteria Capital (lead)$9M-Country Delight is a Gurugram-based direct-to-home food essentials brand offering dairy products, fruits, vegetables, and groceries under a daily subscription model, serving nearly 1.5 million users across 15 cities including Delhi NCR, Mumbai, Bengaluru, and Chennai. The company leverages a fully integrated just-in-time supply chain to deliver fresh products in 24-36 hours directly from farms. In May 2024, it secured INR 76 crore through a mixed debt and equity round from Alteria Capital, marking an early infusion from the investor ahead of additional debt rounds later in the year. The startup reported operating revenue of INR 650 crore in H1 FY24, positioning it to surpass its FY23 revenue of INR 900 crore, which grew 66% year-on-year from FY22. Country Delight aims for EBITDA breakeven by H1 2025 while preparing for an IPO and significant expansion. It plans to use funding for capacity building, brand marketing, and scaling operations amid rising demand for fresh food delivery and quick commerce in India.
Jan 2024Series ETemasek (lead); Seviora Capital; Venturi Partners$20M$820MCountry Delight is a Gurugram-based direct-to-consumer dairy and daily essentials brand founded by Chakradhar Gade and Nitin Kaushal. The company specializes in delivering fresh milk, dairy products, bakery items, poultry, and farm produce sourced directly from dairy farms, with a subscription-based business model enabling daily or alternate-day deliveries. The brand currently serves 1.5 million customers across more than 25 cities, including Delhi NCR, Bengaluru, and Chandigarh, executing 8 million deliveries per month. In its Series E funding round led by Temasek Holdings in early 2025, Country Delight raised Rs 212.5 crore (approximately $25 million), marking the company's first equity funding round in 2025. The post-money valuation remained at $820 million, identical to its previous pre-Series E round in 2024 where the company had secured $20 million. Additionally, in October 2024, Country Delight raised Rs 200 crore in debt financing from Alteria Capital to strengthen its financial position. Financially, Country Delight generated Rs 1,380 crore in revenue during FY24 (ended March 2024), representing a 50 percent increase from Rs 917 crore in FY23. However, the company reported significant losses, including Rs 260 crore in FY23, driven by high operating costs related to procurement, delivery logistics, and customer acquisition. The company has experienced exceptional growth, reporting an 11X increase over a 12-month period and establishing itself as a trusted D2C brand through its commitment to quality, transparency, and direct partnerships with farmers. The company plans to use Series E proceeds to meet working capital needs and support business operations, with future strategies including broadening its product range to encompass indulgence-based, health-oriented, and functional beverages. Country Delight emphasizes transparency and social impact through community outreach initiatives, including donations to mid-day meal programs, while expanding distribution through its official website and major e-commerce platforms including Amazon and Flipkart.
May 2022Series DTemasek (lead); Venturi Partners (lead); Elevation Capital; SWC Global; 360 ONE Asset; Trifecta Capital Advisors; Orios Venture Partners$43M$615M-
Mar 2022Series DVenturi Partners (lead); Temasek; IIFL Securities; Elevation Capital; SWC Global; Trifecta Capital; 360 ONE Asset; Z47; Orios Venture Partners$65M$580M-
Jul 2021Series CAlteria Capital (lead)$6M-Country Delight raised USD 5.92 million in its Series C funding round in July 2021 led by Alteria Capital to support growth and operational needs. The Gurugram-based company delivers fresh dairy products, bakery items, poultry, and farm produce sourced directly from dairy farms via a subscription-based morning delivery model. Alteria Capital, one of India's largest venture debt providers, participated in this equity round alongside its later debt financings for the company.
Nov 2020Series CElevation Capital (lead); 360 ONE Asset; Z47; Orios Venture Partners$25M-Country Delight is a Gurugram-based direct-to-consumer dairy and food essentials brand operated by Beejapuri Dairy Pvt. Ltd., founded in 2015 by Chakradhar Gade and Nitin Kaushal. It delivers fresh milk, paneer, curd, ghee, bread, and other staples via a subscription model, sourcing produce from a network of around 500 farmers within a 150-200 km radius using a full-stack, IoT-enabled supply chain for traceability and freshness. The company operates in key cities including Delhi-NCR, Mumbai, Pune, and Bengaluru, emphasizing purity, affordability in the premium segment, and high customer retention. In November 2020, Country Delight raised $25 million (Rs 185 crore) in its Series C funding round led by Elevation Capital (formerly SAIF Partners), with participation from new investor IIFL AMC (through its schemes) and existing backers Matrix Partners India and Orios Venture Partners. The funds were intended to expand into additional categories like fruits, vegetables, edible oils, processed foods, and grocery staples, while scaling operations and enhancing its proprietary distribution network. At the time, Country Delight claimed to serve 1.5 lakh households (150,000) and fulfill close to 3 million orders per month, demonstrating strong traction amid Covid-19 with accelerated growth. Investors highlighted the company's unique business model, customer obsession, capital efficiency, and superior retention metrics in India's competitive D2C food essentials space. Subsequent rounds include a Series D in 2022 ($108M led by Temasek and Venturi Partners) and later financings maintaining a valuation around $820M as of 2024-2025.
Feb 2020Series BZ47; Orios Venture Partners$7M--
Jan 2019Series BZ47 (lead); Alteria Capital; Orios Venture Partners$10M-Country Delight is India's leading direct-to-consumer fresh food essentials brand founded in 2013. The company delivers dairy, fruits, vegetables, and other fresh food items to consumers' doorsteps within 24-36 hours through a fully integrated farm-to-home supply chain model. Country Delight operates as a vertically integrated player controlling the entire farm-to-fork ecosystem with a direct-to-consumer channel. In early 2019, Country Delight secured equity funding to scale operations nationally. The company expanded its product offerings beyond fresh milk into categories including yogurt and paneer while maintaining high product quality standards. Customers accessed the service through a mobile application enabling easy subscription management. By 2025, Country Delight had grown to serve 1.5 million customers across more than 25 cities including Delhi NCR, Bengaluru, and Chandigarh. The company had raised approximately $220 million in total funding and achieved an $820 million post-money valuation. In 2025, Country Delight entered the quick commerce sector by piloting a 10-15 minute delivery service in Gurugram, directly competing with platforms like Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now.
Mar 2018Series AOrios Venture Partners (lead); Brand Capital$2M--
Nov 2017SeedBrand Capital; Orios Venture Partners$500K--
Jan 2016SeedOrios Venture Partners$600K--
Aug 2015Angel-$100K--

Who has invested in Country Delight?

13 investors have backed Country Delight across its funding rounds, including Orios Venture Partners, Temasek, Z47, Elevation Capital, Alteria Capital and 360 ONE Asset.

Lead investors include Temasek, Alteria Capital, Venturi Partners, Elevation Capital, Z47 and 1 other investor.


Country Delight Investors

Investors in Country Delight by funding rounds participated
InvestorHQRoundsRoleFirst check
Orios Venture PartnersIndiaMumbai8LeadJan 2016
TemasekSingaporeSingapore4LeadMar 2022
Z47IndiaMumbai4LeadJan 2019
Elevation CapitalIndiaGurgaon3LeadNov 2020
Alteria CapitalIndiaMumbai3LeadJan 2019
360 ONE AssetIndiaIndia3ParticipantNov 2020
Venturi PartnersSingaporeSingapore3LeadMar 2022
SWC GlobalSingaporeSingapore2ParticipantMar 2022
Brand CapitalIndiaMumbai2ParticipantNov 2017
IIFL SecuritiesIndiaAhmedabad1ParticipantMar 2022
Seviora CapitalSingaporeSingapore1ParticipantJan 2024

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Investments by Country Delight

Country Delight has invested in 1 company to date.

Latest investment by Country Delight was on May 31st 2022. Country Delight invested in Fitelo in their $2M Seed round.


Latest Investments by Country Delight

Fitelo
Description
Fitelo is an India-based provider of AI-powered nutrition and wellness apps offering personalized diet plans based on user lifestyles, body types, and medical conditions. Clients consult dietitians via the platform for meal tracking, health metrics monitoring, and coaching sessions to support sustainable weight management.
HQ CountryIndia
HQ City
Mohali
Deal Date31 May 2022
RoundSeed
Raised$2M
InvestorsGuild Capital; Chaayos; Pareto Capital
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Country Delight Competitors

Country Delight competitors include listed companies like Sweetgreen and Efor Cay, and private ones like Kopi Kenangan, Blank Street, Rebel Foods and Naixuecha.

Public and private companies comparable to Country Delight
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Kopi KenanganIndonesiaJakartaPrivate$184M-$1B5.4x
Blank StreetUnited StatesNew York City, NYPrivate$150M-$650M4.3x
Rebel FoodsIndiaMumbaiPrivate$173M-$1.4B8.1x
NaixuechaChinaShenzhenPrivate$725M-$1.8B-
SweetgreenUnited StatesUnited StatesPublicly listed$679M($68M)$814M1.5x
Efor CayTurkeyTurkeyPublicly listed$253M$12M$814M-

Country Delight Public Comps

Country Delight is still privately-owned, but its public comps include Sweetgreen, Efor Cay, Agrana Beteiligungs, Frosta, Edita Food Industries, Baladi, Hilton Food Group, Standard Foods, Acomo and Savencia Fromage & Dairy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Sweetgreen$679M($68M)1.5x1.5x(15.1x)(45.1x)
Efor Cay$253M$12M3.4x-71.8x-
Agrana Beteiligungs$3.7B$120M0.4x0.4x11.9x6.2x
Frosta$785M$81M0.9x-8.9x-
Edita Food Industries$401M$81M2.1x1.8x10.6x8.5x
Baladi$498M$69M1.8x-12.9x-
Hilton Food Group$5.7B$225M0.2x0.2x6.1x7.0x
Standard Foods$875M$67M0.8x-11.1x-

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Common questions about Country Delight

When was Country Delight founded?Country Delight was founded in 2015.
Where is Country Delight headquartered?Country Delight is headquartered in Gurgaon, India.
Is Country Delight publicly listed?No, Country Delight is a private, VC-backed company.
What is Country Delight's valuation?Country Delight was last valued at $820M in its Series E in March 2025.
How much funding has Country Delight raised?Country Delight has raised $212M across 13 funding rounds.
What was Country Delight's last funding round?Country Delight's last funding round was a $25M Series E in March 2025, led by Temasek.
Who are Country Delight's investors?Country Delight's investors include Orios Venture Partners, Temasek, Z47, Elevation Capital, Alteria Capital, 360 ONE Asset, Venturi Partners, SWC Global, Brand Capital, IIFL Securities and 3 others.
What is Country Delight's revenue?Country Delight's latest recorded revenue is $148M (March 2025).
What is Country Delight's revenue multiple?Country Delight's latest valuation implies a 5.5x revenue multiple ($820M valuation on $148M of revenue).
Which companies are comparable to Country Delight?Companies comparable to Country Delight include Kopi Kenangan, Blank Street, Rebel Foods, Naixuecha, Sweetgreen and Efor Cay.
How many companies has Country Delight invested in?Country Delight has invested in 1 company, including Fitelo.
What was Country Delight's last investment?In May 2022, Country Delight invested in Fitelo's $2M seed round alongside Guild Capital, Chaayos and Pareto Capital.

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