10-Minute Food Delivery Startup Swish Raises $24 Million Led by Bertelsmann India Investments
Bengaluru-based quick food delivery startup Swish has raised $24 million, around Rs 224.54 crore, in an extended Series B round led by Bertelsmann India Investments, with existing investors Accel, Bain Capital Ventures and Hara Global also participating, marking the company's second fundraise this year.
Here's how the round is structured. According to regulatory filings, Swish's board approved the issue of 4,123 Series B2 compulsorily convertible preference shares at Rs 5,44,616 each. Bertelsmann India Investments is putting in Rs 143.34 crore, Bain Capital Ventures adds Rs 62 crore, while Accel and Hara Global contribute smaller amounts. Based on Entrackr's estimates, this values Swish at roughly Rs 1,653 crore, about $175 million, marking a 30%-plus jump from its previous valuation of Rs 1,268 crore just months ago in March, when it raised $38 million in the same Series B round.
Here's what Swish is actually building. Founded in 2024 by Aniket Shah, Ujjwal Sukheja and Saran S, it runs a vertically integrated network of neighbourhood kitchens, owning everything from raw material procurement to cooking, delivery and the ordering platform itself, with each kitchen serving customers within roughly a one-kilometre radius. The model promises fresh food in about 10 minutes, with average kitchen preparation time under four minutes, and currently operates across Bengaluru, Gurugram, Noida, Delhi and Ghaziabad.
The growth numbers explain the investor interest. Since March 2026, Swish's monthly orders have tripled to cross 1 million a month, even while covering just around 50 pincodes, and more than 80% of orders are delivered within 15 minutes. Its menu has expanded to over 250 SKUs across 20-plus food categories, and notably, lunch and dinner have overtaken snacks as the platform's largest order category, alongside late-night cravings emerging as a key demand driver. This latest round takes Swish's total capital raised to $78 million in just two years.
The fresh capital has a clear roadmap. Swish plans to deepen its kitchen network across Delhi-NCR and Bengaluru, expand into new cities, strengthen its supply chain infrastructure, and build toward a target of over 1,000 kitchens over the next five years, as it competes in an increasingly crowded quick food delivery space alongside quick-commerce players like Blinkit and Zepto.
Co-founder and CEO Aniket Shah framed the opportunity in scale terms, noting that India's food services market is worth roughly $100 billion, yet online food delivery still captures less than 10% of it, and the average Indian eats out or orders 90-100 times a month but orders online only about four of those times.
From post-lunch coffee runs to becoming people's everyday kitchen away from home, Swish's bet is that owning the entire supply chain, not just the delivery app, is what wins India's 10-minute food race.
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— Sandeep Raiza