February 21, 2024
Direct-to-consumer (D2C) recent meals model Nation Delight has raised round $20 million (round Rs 164 crore) in a funding spherical led by Singapore’s sovereign fund Temasek, which is one among its backers.

One other present investor, Venturi Companions, additionally participated within the spherical, along with Temasek-owned asset administration group Seviora, which has invested via agriculture and food-focused funding car, Seviora T3F Fund.

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The newest spherical values the Gurugram-based agency at round $820 million, in response to regulatory filings made with the Registrar of Corporations (RoC). The startup had final raised $108 million again in Might 2022 at a valuation of $615 million.

As per RoC filings, Temasek has invested round $9.3 million on this spherical, with Seviora T3F bringing in round $7 million, and Venturi Companions $3.4 million.

Nation Delight, based in 2013 by IIM Indore alumni Chakradhar Gade and Nitin Kaushal, delivers dairy merchandise, vegatables and fruits to shoppers.

It goals to supply recent farm-to-home deliveries inside 24-36 hours from sourcing, facilitated by a fully-integrated provide chain mannequin, and competes with on-line grocery platforms equivalent to Blinkit, BigBasket, Zepto and Otipy. The corporate has additionally began promoting different gadgets within the grocery area equivalent to pulses, atta, rice, oils, spices and dry fruits.

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Nation Delight sources its merchandise instantly from dairy farms and operates in 15 cities together with the Delhi-Nationwide Capital Area, Mumbai, Bengaluru, Chennai, Jaipur and Pune.Within the year-ended March 31, 2022, it posted Rs 564 crore in working income, and a internet lack of Rs 186 crore, six occasions larger than the earlier fiscal. It’s but to file its financials for FY23.

The corporate continues to spend closely on increasing its scale.

Based on Tracxn, the corporate has raised a complete of $300 million in funding. It additionally counts Matrix Companions India, Elevation Capital and Orios Enterprise Companions in its cap desk.

The newest spherical is ongoing, and Nation Delight might add extra traders at a unique valuation.