Home / Business and Economy / Swish Secures $30 Million Amidst Ultra-Fast Delivery Shakeup
Swish Secures $30 Million Amidst Ultra-Fast Delivery Shakeup
24 Mar
Summary
- Swish secured $30 million in Series B funding led by Hara Global.
- The company's valuation is expected to exceed $140 million post-money.
- Swish operates a 10-minute delivery model using cloud kitchens.
Ten-minute food delivery startup Swish is poised to raise Rs 282.5 crore, approximately $30 million, in its Series B funding round. The round is led by existing investor Hara Global, with contributions from Accel India and Bain Capital Ventures. This infusion of capital follows Swish's previous $14 million fundraise in March of the prior year.
Swish's valuation is anticipated to rise significantly, exceeding $140 million on a post-money basis, a more than 2.4-fold increase from its Series A round. The company operates a unique 10-minute delivery model, utilizing cloud kitchens within a 1.5-2 km radius.
This funding arrives as the ultra-fast food delivery sector experiences considerable flux. Competitors such as Swiggy's Snacc, Zomato's Quick, and Zepto Café have faced closures or restructuring. Swish, established in 2024, reported revenues of Rs 4 crore and a loss of Rs 19 crore for its initial operational period.
