Country Delight, a direct-to-consumer (D2C) fresh foods brand has raised around USD 20 million (around Rs 164 crore) in a funding round led by Singapore’s sovereign fund Temasek, which is one of its backers.
In addition to Temasek-owned asset management business Seviora, which invested through its agriculture and food-focused investment vehicle, Seviora T3F Fund, another existing investor, Venturi Partners, participated in the round.
According to regulatory records with the Registrar of Companies (RoC), the new round values the Gurugram-based business at roughly USD 820 million. The business last received USD 108 million at a value of USD 615 million in May 2022.
As per RoC filings, Temasek has invested around USD 9.3 million in this round, with Seviora T3F bringing in around USD 7 million, and Venturi Partners USD 3.4 million.
In the year-ended 31 March 2022, it posted Rs 564 crore in operating revenue, and a net loss of Rs 186 crore, six times higher than the previous fiscal. It is yet to file its financials for FY23.
According to Tracxn, the company has raised a total of USD 300 million in funding. It also counts Matrix Partners India, Elevation Capital and Orios Venture Partners in its cap table.
The latest round is ongoing and Country Delight could add more investors at a different valuation.
