Country Delight in talks with private equity firms Temasek, Venturi Partners, and Premji Invest to raise $90-$100 million, valuing the company at $500-$550 million, according to three people with direct knowledge of the situation. Existing investors such as Matrix Partners and Orios Ventures are also participating in the new funding and other investors, such as Trifecta Capital, have also had discussions with the company, according to the sources.
Country Delight delivers food staples such as milk, bread, ghee (clarified butter), and paneer (Indian cottage cheese) to customers' homes. All of the produce for the full-stack company is sourced from a network of farmers within a 200-kilometer radius. According to the company, it serves nearly three million customers and fulfils more than five million orders per month by focusing on the affordable-premium category via a subscription model. Country Delight expects the investment to help it grow its grocery delivery business, in which it will compete with other on-demand delivery service providers such as Blinkit (formerly Grofers), Fraazo, BigBasket, Swiggy Instamart, Dunzo, and Zepto.