In a series D round led by Venturi Partners and Temasek, Country Delight, an India-based direct-to-consumer food basics company, raised $108 million.
According to sources, Country Delight CEO and co-founder Chakradhar Gade stated that the company’s worth has increased to $615 million.
In November 2020, the Gurugram-based business secured US $25 million.
Over 60% of India’s fresh food sector is poorly managed, according to Country Delight, with a fragmented transportation chain, a lack of cold storage, and insufficient product quality transparency. The firm intends to address this by providing consumers with farm-fresh fruits, vegetables, and dairy products on demand.
Country Delight’s tech-enabled supply chain allows consumers to get items within 24 to 36 hours of when they were sourced, according to Gade and Nitin Kaushal, who founded the company in 2013. The D2C company claims to have expanded 10x in scale in the previous three years, with 1.5 million consumers throughout India.
India’s fresh food and basics sector is expected to reach $50 billion by 2025, according to the business.
