Food delivery startup Swish has raised $38 million in a new funding round, more than doubling its valuation and showing strong investor interest in fast delivery services.
The funding was led by Hara Global and Bain Capital Ventures, with participation from existing investor Accel. The company’s valuation has now increased to about $140 million, up from around $60 million earlier.
Founded in 2024, Swish focuses on delivering freshly prepared food within 10 minutes. It operates its own cloud kitchens located close to customers, which helps it deliver food quickly. The service currently runs mainly in Bengaluru.
Swish plans to use the new funds to expand its business, improve its supply chain, and invest in better technology. It also aims to enter new cities like Delhi-NCR in the near future.
The company handles around 20,000 orders every day in Bengaluru. It has also expanded its menu from snacks to include full meals, drinks, and desserts to attract more customers.
Unlike many food delivery platforms, Swish manages the entire process, from cooking to delivery. This allows it to control quality and reduce costs, which is important in the fast delivery business.
The quick delivery segment is still challenging, as it requires high spending and efficient operations. Some larger companies have slowed down similar services due to high costs. However, Swish believes its focus on small delivery areas and strong technology can help it grow.
So far, the startup has raised about $54 million in total funding within a short time. This shows that investors are willing to support new ideas in the food delivery market.
Swish’s latest funding highlights increasing competition in India’s fast delivery space, where companies are trying to offer quicker services to meet the growing demand for convenience.
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