10-minute Food Delivery Startup Swish Raises $2 Mn From Accel, Will Fuel Expansion

Neha KamathNovember 19, 2024

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Three points you will get to know in this article:

Angel investors, including former Swiggy Instamart CEO Karthik Gurumurthy and Urban Company founders Abhiraj Bhal and Varun Khaitan, also participated in the investment round.
Swish wants to use the funds to grow its operations and scale its presence in Bengaluru.
Swish, founded in August of this year by Aniket Shah, Saran S, and Ujjwal Sukheja, provides a choice of quick food offerings in 10 to 15 minutes via its app.

Quick Food Delivery Startup Swish Secures Funding From Accel

Swish, a 10-minute meal delivery service founded three months ago, has raised $2 million (more than 16 crore) in a seed fundraising round headed by venture capital (VC) firm Accel.

Swish, founded by Aniket Shah, Saran S, and Ujjwal Sukheja, offers a variety of quick meal options through its smartphone in about 10 to 15 minutes. Since its launch, the app has had over 10,000 downloads from both the Google Play Store and the Apple Store.

Angel investors in the round included former Swiggy Instamart CEO Karthik Gurumurthy and Urban Company founders Abhiraj Bhal and Varun Khaitan.

Where Will Swish Use It’s Latest Funds?

The business intends to use the funds to grow its operations and increase its footprint around Bengaluru.

Swish commenced operations in Bengaluru’s HSR Layout in August and has since extended to include sections of Bellandur.

According to a release, the business intends to open approximately 150 “centres” in main neighborhoods of Bengaluru. In addition, it intends to expand to other Tier-1 cities soon.

Swish provides delivery through its cloud kitchen, Pod. In August, the startup’s founders said that it received between 150 and 200 orders every day, with an average order value of INR 250 to 300.

How Is Indian Food Delivery Market Evolving?

Abhinav Chaturvedi, an Accel partner, commented on the funding, saying, “Customer expectations for delivery times have evolved with the development of rapid commerce. Swish is tackling this difficulty in a different way, reimagining the supply chain to bring the same ultra-fast experience to food delivery via their joy centers.”

The development comes at a time when the 10-minute meal delivery category is becoming increasingly competitive. Swiggy and Zepto are also extending their presence in this market.

On Monday (November 18), rapid commerce leader Zepto announced ambitions to expand its 10-minute meal delivery service ‘Zepto Cafe’ beyond Mumbai. It wants to launch Zepto Cafe in 120 cities, including Delhi NCR, Bengaluru, Hyderabad, and Chennai.

Swiggy debuted its 10-minute meal delivery service Bolt in six cities this month, including Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune. Meanwhile, Zomato is said to be considering reentering the industry through its rapid commerce business, Blinkit.