The fast food delivery platform Swish is raising 224.54 crore rupees (equivalent to approximately 24 million US dollars) in an extended Series B funding round led by Bertelsmann India.
This will be the second fundraising effort for the Bengaluru-based startup this year. Previously, in March, the company raised $38 million in a Series B round curated by Hara Global and Bain Capital Venture.
According to regulatory filings, Swish's board of directors made a special resolution to issue 4123 Series B2 convertible preferred shares at a price of 544,616 rupees per share. This was first reported by Entrackr.
Existing investors, including Bain Capital Ventures, Accel, and Hara Global, will also participate in the latest round.
Swish was founded in 2024 by Aniket Shah, Ujwal Sukhedge, and Saran S. The company promises to deliver food in 10 minutes using a model that combines elements of cloud kitchens and quick-service restaurants.
Swish's main goal is to cater to frequent small-volume orders, such as breakfasts, snacks, and late dinners, instead of traditional lunch and dinner orders.
The startup uses a strictly controlled, vertically integrated model, owning kitchens, logistics, and its own consumer application, to deliver meals within a 1 km radius in about 10 minutes. By eliminating third-party commissions, the company plans to reinvest the profits into food quality and delivery speed.
During the March fundraising, Swish stated that it serves over 20,000 orders daily, offering a menu that includes both quick snacks and full meals. The company started with narrower use cases, such as coffee and snacks, before expanding to other food categories as repeat demand grew.
Swish operates in an extremely competitive environment, competing with quick-service players like BlinkIt and Zepto, as well as cloud kitchen operators.