SAIF Partners in talks to back Country Delight at Rs 1,000 cr valuation
SAIF Partners, one of India’s leading venture capital firms, is in advanced talks to lead a Rs 100 cr round in direct-to-consumer milk startup Country Delight, The round will value Country Delight at Rs 1,000 cr, up from the Rs 600 cr it was valued at in February 2019. Existing investors Matrix Partners and Orios Venture Partners are expected to participate in the round as well.
Country Delight runs a full-stack subscription model. It has cow farms and it also pasteurises, tests and delivers milk, eliminating the middleman. The Delhi-NCR-based, which delivers in Pune, Mumbai, NCR and Bengaluru, has a revenue of about Rs 30 crore and an EBITDA of Rs 3 crore per month, indicating it is close to profitability. EBITDA is earnings before interest taxes depreciation and amortization.