Swish Set to Raise USD 30 Mn in Series B Led by Hara Global

Bengaluru-based ten-minute food delivery startup Swish is set to raise INR 282.5 crore (around USD 30 million) in its Series B funding round, according to media reports.

The round is being led by existing investor Hara Global Capital, with participation from Accel India and Bain Capital Ventures.

The latest funding comes roughly a year after the company’s previous raise, when it secured USD 14 million from Hara Global Capital and Accel.

As per regulatory filings accessed from the Registrar of Companies, Swish’s board has approved a special resolution to issue 5,843 Series B compulsory convertible preference shares at an issue price of INR 4,83,419 each to raise the planned amount.

In the current round, Hara Global Capital is expected to invest INR 127.57 crore (about USD 14 million), increasing its stake in the company. Bain Capital Ventures will contribute INR 91 crore (approximately USD 10 million), while Accel India is set to invest INR 63.76 crore (around USD 7 million).

Following the allotment of shares, Accel India will hold the largest stake in Swish at 26.2%. Hara Global will own 20.43%, and Bain Capital Ventures will hold 7.19%. The company’s co-founders—Aniket Shah, Sureshkumar Saran, and Ujjwal Sukheja—will each retain a 12.72% stake.

Founded in 2024, Swish operates a ten-minute food delivery model within a 1.5 to 2 km radius using cloud kitchens, referred to as “delight centers.” The company entered the ultra-fast food delivery segment alongside larger players such as Zomato, Swiggy, and Zepto.

The segment has seen mixed results. Swiggy recently shut down its standalone quick delivery app Snacc within a year of launch, while Zomato paused its 15-minute delivery service Quick shortly after introduction. Zepto also scaled back its Zepto Café operations, and Ola has put its Ola Foods service on hold. However, Zomato-owned Blinkit continues to run its instant food delivery service, Bistro.

Swish, which began operations in FY25, reported revenue of INR 4 crore and a net loss of INR 19 crore for the period between July 8, 2024, and March 31, 2025.