Bengaluru-based quick food delivery startup Swish has raised $38 million in a new 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.
According to estimates, the latest funding is expected to push Swish’s valuation up by over 2.4X to Rs 1,267 crore (around $140 million) post-money.
This marks the company’s third funding round in just 16 months. Earlier, Swish raised $14 million from Hara Global Capital and Accel, following a $2 million seed round in November 2024.
Focus on Expansion and Speed
The fresh capital will be used to expand operations and strengthen its quick delivery infrastructure, as the company looks to scale its ultra-fast food delivery model.
Founded in 2024, Swish operates a 10-minute food delivery service through a network of cloud kitchens located close to high-demand areas. By limiting delivery radius, the startup aims to ensure faster order fulfilment.
The company has reported rapid growth in recent months, with daily order volumes rising to around 20,000 from about 5,000 just four months ago.
Competing in a Challenging Segment
Swish operates in the highly competitive ultra-fast delivery space alongside players like Zomato, Swiggy, and Zepto.
However, the segment has seen mixed results. Swiggy shut down its 10–15 minute delivery app Snacc within a year, while Zomato paused its 15-minute service Quick shortly after launch. Zepto also scaled down its Zepto Café operations, shutting around 200 of its 600 outlets during restructuring.
Meanwhile, Ola has put its Ola Foods service on hold, while Zomato-owned Blinkit continues to operate its instant food offering Bistro.
Despite these challenges, Swish is betting on its focused delivery model and growing demand to carve out a strong position in the fast-evolving quick food delivery market.
-By Shivani Solanki
