Bengaluru-Based Swish Secures USD 38 Mn in Funding Round
Led by Hara Global and Bain Capital Ventures, the round included Accel, plus debt from Alteria Capital and Stride Ventures.
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Swish, a Bengaluru-based 10-minute food delivery startup, has raised USD 38 million in a fresh funding round led by Hara Global and Bain Capital Ventures, with participation from existing investor Accel.
The round also includes venture debt from Alteria Capital and Stride Ventures.
This marks the company’s third funding round within 16 months. Earlier, Swish had raised USD 14 million from Hara Global Capital and Accel, following a USD 2 million seed round in November 2024.
The fresh capital will be used to expand operations and strengthen its quick delivery infrastructure.
Founded in 2024, Swish operates a 10-minute food delivery model through a network of cloud kitchens located close to demand clusters, enabling faster delivery within a limited radius.
According to the startup, its daily order volumes have grown significantly to around 20,000, up from nearly 5,000 orders just four months ago, indicating rising demand for ultra-fast food delivery services.
Swish operates in a competitive segment alongside larger players such as Zomato, Swiggy, and Zepto. However, the ultra-fast delivery space has seen several setbacks. Swiggy shut down its 10–15 minute delivery app Snacc within a year of launch, while Zomato paused its 15-minute service Quick shortly after rollout.
Zepto has also scaled down its quick service vertical, closing a significant number of outlets during restructuring. Meanwhile, Ola has put its Ola Foods service on hold after a relaunch, while Blinkit, owned by Zomato, continues to operate its instant food delivery service Bistro.
Swish, a Bengaluru-based 10-minute food delivery startup, has raised USD 38 million in a fresh funding round led by Hara Global and Bain Capital Ventures, with participation from existing investor Accel.
The round also includes venture debt from Alteria Capital and Stride Ventures.
This marks the company’s third funding round within 16 months. Earlier, Swish had raised USD 14 million from Hara Global Capital and Accel, following a USD 2 million seed round in November 2024.
The fresh capital will be used to expand operations and strengthen its quick delivery infrastructure.
Founded in 2024, Swish operates a 10-minute food delivery model through a network of cloud kitchens located close to demand clusters, enabling faster delivery within a limited radius.
According to the startup, its daily order volumes have grown significantly to around 20,000, up from nearly 5,000 orders just four months ago, indicating rising demand for ultra-fast food delivery services.
Swish operates in a competitive segment alongside larger players such as Zomato, Swiggy, and Zepto. However, the ultra-fast delivery space has seen several setbacks. Swiggy shut down its 10–15 minute delivery app Snacc within a year of launch, while Zomato paused its 15-minute service Quick shortly after rollout.
Zepto has also scaled down its quick service vertical, closing a significant number of outlets during restructuring. Meanwhile, Ola has put its Ola Foods service on hold after a relaunch, while Blinkit, owned by Zomato, continues to operate its instant food delivery service Bistro.
