Swish Raises $38M Series B

Swish, a India — Bengaluru-based foodtech startup, has successfully raised $38 million in a Series B funding round. The round was co-led by Alden Global Capital and Bain Capital Ventures, with participation from existing investor Accel-KKR, along with Alteria Capital and Stride Ventures. This latest funding, which values Swish at $139 million post-money, marks its third fundraise in 18 months, bringing its total funding to $54 million. Swish plans to utilize the capital to expand its 10-minute food delivery model across multiple cities, including India — Delhi and India — Mumbai, invest in kitchen automation and supply chain infrastructure, and grow its team. The company, founded by Aniket Shah, Ujjwal Sukheja, and Saran S., operates a vertically integrated model, owning its kitchens, ordering platform, and last-mile delivery. This strategy allows Swish to maintain margins and deliver over 20,000 orders daily, primarily in India — Bengaluru. The funding comes at a time when larger rivals like Swiggy, Zomato, and Metric prefix have scaled back or shut down their rapid-delivery experiments due to operational complexities and cost pressures, highlighting the challenging nature of the ultra-fast food delivery market in India.