- Companies
- Country Delight
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
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
Website
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| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2025 | Series E | $820M | 5.5x |
| Jan 2024 | Series E | $820M | 5.5x |
| May 2022 | Series D | $615M | - |
| Mar 2022 | Series 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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2025 | $148M | $820M | 5.5x | Series E |
| Jan 2024 | $148M | $820M | 5.5x | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | Series E | Temasek (lead) | $25M | $820M | Country 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 2024 | Series E | Alteria 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 2024 | Series E | Temasek (lead); Seviora Capital; Venturi Partners | $20M | $820M | Country 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 2022 | Series D | Temasek (lead); Venturi Partners (lead); Elevation Capital; SWC Global; 360 ONE Asset; Trifecta Capital Advisors; Orios Venture Partners | $43M | $615M | - |
| Mar 2022 | Series D | Venturi Partners (lead); Temasek; IIFL Securities; Elevation Capital; SWC Global; Trifecta Capital; 360 ONE Asset; Z47; Orios Venture Partners | $65M | $580M | - |
| Jul 2021 | Series C | Alteria 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 2020 | Series C | Elevation 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 2020 | Series B | Z47; Orios Venture Partners | $7M | - | - |
| Jan 2019 | Series B | Z47 (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 2018 | Series A | Orios Venture Partners (lead); Brand Capital | $2M | - | - |
| Nov 2017 | Seed | Brand Capital; Orios Venture Partners | $500K | - | - |
| Jan 2016 | Seed | Orios Venture Partners | $600K | - | - |
| Aug 2015 | Angel | - | $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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 8 | Lead | Jan 2016 | ||
| 4 | Lead | Mar 2022 | ||
| 4 | Lead | Jan 2019 | ||
| 3 | Lead | Nov 2020 | ||
| 3 | Lead | Jan 2019 | ||
| 3 | Participant | Nov 2020 | ||
| 3 | Lead | Mar 2022 | ||
| 2 | Participant | Mar 2022 | ||
| 2 | Participant | Nov 2017 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | Jan 2024 | ||
This data is available for Pro users. Sign up to see all 13 Country Delight investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments 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
| 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 Country | |
| HQ City | Mohali |
| Deal Date | 31 May 2022 |
| Round | Seed |
| Raised | $2M |
| Investors | Guild Capital; Chaayos; Pareto Capital |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Country Delight investments and their VC round multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $184M | - | $1B | 5.4x | ||
| Private | $150M | - | $650M | 4.3x | ||
| Private | $173M | - | $1.4B | 8.1x | ||
| Private | $725M | - | $1.8B | - | ||
| Publicly listed | $679M | ($68M) | $814M | 1.5x | ||
| Publicly 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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $679M | ($68M) | 1.5x | 1.5x | (15.1x) | (45.1x) | |||
| $253M | $12M | 3.4x | - | 71.8x | - | |||
| $3.7B | $120M | 0.4x | 0.4x | 11.9x | 6.2x | |||
| $785M | $81M | 0.9x | - | 8.9x | - | |||
| $401M | $81M | 2.1x | 1.8x | 10.6x | 8.5x | |||
| $498M | $69M | 1.8x | - | 12.9x | - | |||
| $5.7B | $225M | 0.2x | 0.2x | 6.1x | 7.0x | |||
| $875M | $67M | 0.8x | - | 11.1x | - | |||
This data is available for Pro users. Sign up to see all Country Delight competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to Country Delight
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




