Bengaluru-based Swish has raised $54M over 18 months, valuing the company at $139M, and is focusing on owning the kitchen, technology, and last mile to make ultra-fast food delivery scalable.
Before Swish announced its $38 million Series B, several of India’s major food platforms like Swiggy, Zomato, and Zepto had stepped back from rapid 10-minute delivery models. Swiggy closed its Snacc app, Zomato paused its Quick service, and Zepto downsized its Zepto Café outlets. Despite this, Swish has secured $38 million and is moving ahead.
The funding round was led by Hara Global and Bain Capital Ventures, with Accel, Alteria Capital, and Stride Ventures participating. This raises Swish’s post-money valuation to $139 million, up from $60 million in March 2025, accumulating $54 million in total funding over three rounds in 18 months. The company was founded in 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S.
Swish attributes its success to its unique model. Unlike aggregators such as Swiggy, Zomato, and Zepto, which rely on third-party kitchens, Swish owns its kitchens, runs its own app, and hires its own delivery staff, eliminating third-party commissions. This allows Swish to reinvest in food quality and delivery, with over 20,000 daily orders.
Saanya Ojha from Bain Capital Ventures highlights that Swish is not only targeting dinner orders but also frequent, small orders like breakfast and snacks. “Swish is targeting a much larger, more frequent surface area,” she stated. “The opportunity is not just to take share within food delivery, but to expand the market by bringing more daily consumption online.”
Financial reports show Swish earned ₹4 crore between July 2024 and March 2025, against a ₹19 crore net loss, reflecting investment in infrastructure and team growth. The new funds will support team expansion, multi-city growth, and kitchen automation. Accel partner Abhinav Chaturvedi emphasized Swish’s control over the kitchen, tech, and delivery as key to fulfilling fresh, quick delivery promises.
The Series B will explore if Swish’s vertical integration can succeed beyond densely populated Bengaluru to other Indian cities over the next 18 months.