Meals supply startup Swish raises Rs 122 crore from traders led by Hara International and Accel, ETCFO
Bengaluru-based 10-minute food-delivery startup Swish has raised $14 million (about Rs 122 crore) in a funding spherical led by UK-based fund Hara International and present investor Silicon Valley-based enterprise capital agency Accel.
The spherical additionally noticed participation from angel traders equivalent to Cred founder Kunal Shah, Unacademy founder Gaurav Munjal and Softbank associate Sumer Juneja.
The funds can be used for increasing operations throughout Bengaluru, with plans to roll out the fast meals supply mannequin to extra pincodes within the upcoming months.
ET first reported on January 2 that the startup was seeking to elevate a $15-20 million spherical.
The funding infusion comes after the startup raised $2 million in November 2024 in its maiden funding spherical led by Accel. It has raised $16 million up to now.
“Our thesis was easy—fast meals commerce isn’t nearly velocity; it drives increased buyer satisfaction, higher effectivity and a enterprise mannequin that’s each worthwhile and sustainable. Up to now few months, we’ve confirmed this proper. Now, we’re able to take this validated mannequin throughout many extra micro-markets,” stated cofounder and chief government Aniket Shah.
Based in 2024 by Shah, Ujjwal Sukheja and Saran S, the startup manages your complete course of from meals preparation to supply inside a small 1.5-2 km radius. The corporate presently runs a number of cloud kitchens throughout greater than 10 areas in Bengaluru, together with HSR Format, Bellandur, Koramangala and Sarjapur.
This highlights the fast development of 10 to 30-minute supply companies in city markets, with quick-commerce platforms attracting vital funding. Zomato-owned fast commerce platform Blinkit entered the 10-minute meals supply section with the launch of Bistro. Swiggy already runs its 10-minute meals supply providing below Bolt whereas Zepto operates Cafe, that are being scaled up quickly.
Commenting on the funding, Hara International stated, “Aniket, Ujjwal and Saran have proven super creativity in overhauling the age-old restaurant business. They’ve gone one step additional and alloyed deep improvements in meals making and made it match for the age of fast commerce.”
Abhinav Chaturvedi, associate at Accel, stated, “In only a few months since inception, Swish has demonstrated scale with a product and supply mannequin that clients are enthusiastic about and responding effectively to… We’re excited to bolster our dedication of their thesis and sit up for seeing Swish delight extra clients in additional pincodes.”
