Funding Alert

Swish Raises $2 Million in Seed Funding Led by Accel to Expand 10-Minute Food Delivery Service

• ByStartupStory     |    November 19, 2024

Bengaluru-based quick-service food delivery startup Swish has raised $2 million (over INR 16 crore) in a seed funding round led by venture capital firm Accel. The funding round also saw participation from angel investors, including ex-Swiggy Instamart head Karthik Gurumurthy and Urban Company founders Abhiraj Bhal and Varun Khaitan.

Swish, which launched operations in August in the HSR Layout area of Bengaluru, plans to utilize the funds to scale its presence across the city and expand operations. The startup has already extended its services to parts of Bellandur and aims to establish 150 “delight centres” across major areas in Bengaluru.

In addition, Swish has announced plans to expand its operations to other Tier-1 cities in the near future.

Commenting on the funding, Accel partner Abhinav Chaturvedi said, “Customer expectations around delivery times have shifted with the rise of quick commerce. Swish is tackling this challenge with a new approach, rethinking the supply chain to bring the same ultra-fast experience to food delivery through their delight centres.”

Founded by Aniket Shah, Saran S, and Ujjwal Sukheja, Swish offers a variety of fast-food options through its app, promising deliveries in 10 to 15 minutes. Since its launch, the app has garnered over 10,000 downloads on the Google Play Store and Apple Store.

The startup operates through its cloud kitchen model, branded as “Pod.” In August, the founders reported that Swish was handling 150-200 orders daily, with an average order value of INR 250-300.

The funding round comes amid growing competition in the 10-minute food delivery segment. Swiggy, Zepto, and Zomato are intensifying their focus on this space, with significant expansion plans underway.

On November 18, Zepto announced its intention to expand its quick food delivery service, Zepto Cafe, to 120 cities, including Delhi NCR, Bengaluru, Hyderabad, and Chennai. Meanwhile, Swiggy’s Bolt service, launched last month, is now operational in six cities, including Bengaluru, Mumbai, and Pune. Zomato is also reportedly exploring reentry into the segment through Blinkit.

 

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