Swish to raise Rs 225 Cr in funding round led by Bertelsmann India
This is the second fundraise by the quick food delivery platform this year.
Quick food delivery platform Swish is raising Rs 224.54 crore (approx $24 million) in an extended Series B round of funding led by Bertelsmann India.
This will be the second fundraise by the Bengaluru-headquartered startup this year. It had raised $38 million in March in a Series B round led by Hara Global and Bain Capital Ventures.
The board of Swish passed a special resolution to issue 4,123 Series B2 compulsory convertible preference shares at an issue price of Rs 5,44,616 each, according to regulatory filings. This development was first reported by Entrackr.
The latest round will also see participation from existing investors Bain Capital Ventures, Accel and Hara Global.
Founded in 2024 by Aniket Shah, Ujjwal Sukheja and Saran S, Swish promises food delivery in 10 minutes in a model that blends the elements of a cloud kitchen and quick commerce.
Swish targets frequent, lower-ticket occasions such as breakfast, snacks, and late-night meals, rather than traditional lunch and dinner orders.
The startup relies on a tightly controlled, vertically integrated model by owning kitchens, logistics, and its consumer app, to deliver meals within a 1-km radius in about 10 minutes. By cutting out third-party commissions, the company aims to reinvest margins into food quality and delivery speed.
At the time of its fundraise in March, Swish said it served more than 20,000 orders daily, with menus spanning quick bites and full meals. The company began with smaller use cases such as coffee and snacks before expanding into other meal categories as repeat demand grew.
Swish operates in a hyper-competitive space, competing with both quick-commerce players, including Blinkit and Zepto, as well as cloud-kitchen operators.