Bengaluru-based 10-min food delivery startup Swish raises Rs 356 crore to enter new cities, doubles valuation

Bengaluru-based food delivery startup Swish has raised $38 million (around Rs 354 crore) in a Series B funding round as it seeks to expand its rapid delivery service to more cities.

The investment was jointly led by Hara Global Capital and Bain Capital Ventures, with participation from existing investor Accel India. Venture debt was also provided by Alteria Capital and Stride Ventures.

The latest funding marks the startup's third round in just over a year. Swish previously raised $14 million in Series A funding in March 2025, following an earlier $2 million seed round in November 2024.

Founded in 2024 by Aniket Shah, Ujjwal Sukheja and Saran S., Swish operates a 10-minute food delivery model using a network of cloud kitchens located close to areas of demand. The startup manages its own kitchens, ordering platform and last-mile delivery, allowing it to operate within a limited radius.

Swish said this integrated approach helps it retain margins while reinvesting in product quality and customer experience. The startup claims that it currently processes more than 20,000 orders daily, primarily in Bengaluru, up from around 5,000 orders just four months ago.

The fresh capital will be used to expand operations into new neighbourhoods and cities, as well as to invest in kitchen automation, supply chain infrastructure and hiring.

“Over the past 18 months, we have focused on building a fresh food supply chain from the ground up,” said Aniket Shah, co-founder and chief executive officer. “With this funding, we plan to expand to more neighbourhoods across cities and scale our operations significantly.”

“India’s quick commerce adoption has reset consumer expectations around speed, reliability, and convenience, but food delivery has largely been optimised for planned, higher-value meals,” said Saanya Ojha, partner at Bain Capital Ventures.

“Swish is targeting a much larger, more frequent surface area: breakfast, snacks, tea, late-night, and solo meals. The opportunity is not just to take share within food delivery, but to expand the market by bringing more daily consumption online,” she added.

Swish operates in a competitive ultra-fast delivery segment alongside companies such as Zomato, Swiggy and Zepto. However, several firms have scaled back similar offerings in recent months.

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 reduced its quick-service vertical, Zepto Café, closing around 200 outlets as part of restructuring. Ola, meanwhile, has put its Ola Foods delivery service on hold following a relaunch.

Blinkit, owned by Zomato, continues to operate its instant food delivery service, Bistro.