Updated February 8th, 2024 at 21:28 IST
Orios partially exits Country Delight
The venture capital firm gained 45 times its investment in the dairytech startup
Wealthy exit: Early-stage venture capital firm Orios Venture Partners has made a partial exit from dairytech startup Country Delight, with a 45 times jump in what it initially invested.
Financed through Fund 1, the venture fund still holds a majority of its stake in the dairytech which it first invested in 2017.
“We have always worked hard to identify the very best companies at early stages to invest in. We look at between 4,000 to 5,000 companies in a year to invest in 10. We have been doing this since 2008, first as private investors and then since 2014 as an AIF (alternative investment fund). The same process also led to the identification of Ola and Druva," said Rehan Yar Khan, Managing Partner at Orios Venture Partners.
Other investments of Orion include Battery Smart, Karbon, ixigo, Mobikwik, CarDekho and Vedantu.
Orios said it conducted a sector study on subscription commerce, meeting over 40 companies.
"We believe exceptional founders in large spaces can build special companies. With Country Delight, it has been an honour and great learning experience to watch Chakradhar and Nitin build the company, from a single product to over 140 products,” said Khan.
Country Delight was founded in 2013 by Chakradhar Gade and Nitin Kaushal as a direct-to-consumer (D2C) brand offering premium dairy products, vegetables, fruits, and staples.
According to data platform Tracxn, Country Delight has raised a total funding of $300 million over 12 rounds, its latest round being the Series E raised in January for $20 million. It investors also include Matrix Partners and Temasek.
Published February 8th, 2024 at 21:28 IST