Milk delivery company Country Delight raises $108 million

BENGALURU: Country Delight, which supplies milk and other farm products to customers’ doorsteps, has raised $108 million in a funding round led by Venturi Partners and Temasek, with participation from SWC Global and Trifecta Capital. Existing investors IIFL AMC, Elevation Capital, Orios Venture Partners and Matrix Partners also participated.

The transaction values the firm at $615 million. Country Delight has raised $147 million till date. Founded in 2013, Country Delight started its operations delivering milk to customers’ doorsteps. From there on, it has grown to become a fresh food essentials brand delivering dairy, fruits and vegetables to homes within 24-36 hours.

Chakradhar Gade, co-founder and CEO, said the funding would be deployed to expand the company’s footprint to an additional 15-25 cities and widen the product portfolio.

“We take a tech-driven approach to deliver farm-fresh produce to consumers sourced from farmers. We enter a household with fresh milk as the hook. We have grown our revenue run rate to $120 million, from $1 million in 2017. We clock 8 million deliveries per month across 15 cities with a supply chain that spans across 11 states. We have 3 lakh subscribers,” he said.