Dairy-tech startup Country Delight is set to raise $25 million (₹212.5 crore) in fresh funding, likely as part of its Series E round, from Temasek-backed V-Sciences Investments Pte Ltd.
According to filings with the Ministry of Corporate Affairs (MCA), Country Delight’s board has approved the issuance of over 1 lakh Series E compulsorily convertible preference shares (CCPS) to V-Sciences Investments at a price of ₹21,045 per share. The company has not responded to media inquiries about the funding round, which was first reported by Entrackr.
What’s the Money For?
The filings indicate that the new capital will be used for working capital needs and an unspecified “project”—details of which remain under wraps.
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This marks Country Delight’s second major fundraise in six months. Back in October 2024, the startup secured ₹200 crore in debt funding from Alteria Capital. At the time, co-founder Chakradhar Gade emphasized that raising capital from multiple sources was key to improving financial efficiency and gearing up for a future IPO.
“We are strategically using different types of funding to optimize our financial structure and set the stage for our next growth phase,” Gade said during the October round.
Expansion & Quick Commerce Bet
Since its last fundraise, Country Delight has been aggressively expanding its product portfolio and entering new markets. The startup, known for its direct-to-consumer (D2C) fresh milk and dairy products, has also dabbled in quick commerce, launching 10-15 minute deliveries in select areas of Delhi-NCR, as reported by Financial Express in December.
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While its traditional daily delivery model has been its core strength, the pivot into the ultra-fast delivery space signals an interesting shift in strategy. However, it remains to be seen how this new approach is performing against established quick-commerce players.
With fresh capital in hand and an IPO on the horizon, Country Delight’s next moves will be crucial in shaping its position in India’s evolving dairy and grocery delivery market.
