Funding · Commerce & Consumer Brands

Swish raises $38M in Series B round

By Startup Enthusiast · 17 March 2026

What they do

Swish delivers mini meals, snacks, and beverages within 10 minutes from its own cloud kitchens

The company raised $38M in Series B funding led by Hara Global and Bain Capital Ventures

Swish's valuation more than doubled to about $140M from $60M in its Series A round last year

Swish has raised $38M in a Series B funding round.
The round was led by Hara Global and Bain Capital Ventures.
Existing investor Accel also participated in the round.
The company also raised venture debt from Alteria Capital and Stride Ventures.
Swish's post-money valuation is about $140M, more than double its previous valuation of $60M.
The company has raised a total of about $54M to date.
Swish plans to use the funds for team expansion, entering new cities like Delhi NCR and Mumbai, and investing in kitchen automation and supply chain.

Swiggy shut down its 10-minute delivery service Snacc after about a year due to profit pressures.
Zomato paused its 15-minute service Quick within months of launch.
Zepto Cafe scaled down and closed about 200 of its 600 outlets.
Despite these pullbacks, Swish is expanding, and its older kitchen clusters have reached profitability.

Swish operates a full-stack model: it owns its cloud kitchens, technology platform, and delivery fleet.
It delivers mini meals, snacks, beverages, and desserts within 10 minutes from kitchens located within 1 km of customers.
The menu includes breakfast, mini meals, protein-rich options, festive specials, and desserts, with over 200 items.
Swish processes about 20,000 daily orders, up from 5,000 four months ago.
The average order value is ₹200-250 (about $2-3).
Top users order 10+ times per month.
The target demographic is urban consumers aged 20-35.
Swish operates in 10 micro-markets in Bengaluru.
In FY25 (July 2024-March 2025), Swish reported revenue of ₹4 crore and a loss of ₹19 crore.

Product: A 10-minute food delivery service built around owned neighbourhood kitchens.
Customers: Urban consumers ordering meals for immediate delivery.
How it makes money: It earns revenue by selling prepared food directly to end customers through its own kitchen and delivery network.
What sets it apart: Owns and manages kitchens, technology, and last-mile delivery, with delivery within about a one-kilometre radius.
Operations: Operates across Bengaluru, Gurugram, Noida, Delhi, and Ghaziabad.