Accel, a venture capital firm, has led a $2 million funding round for Swish, a Bengaluru-based food delivery startup. The round also saw participation from angel investors Abhiraj Bhal and Varun Khaitan, founders of Urban Company, as well as Karthik Gurumurthy, former head of Swiggy Instamart. Founded in 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S., Swish aims to deliver fresh food within 10 minutes.
The company operates its own cloud kitchens and oversees the entire process from food preparation to delivery, focusing on a compact radius of 1.5-2 km. The funds raised will be used to expand Swish’s operations and strengthen its delivery model across most areas of Bengaluru. The startup also plans to extend its services to other tier-I cities in India.
Swish currently operates in Bengaluru’s HSR Layout and Bellandur areas, with plans to expand to Koramangala and Sarjapur by the end of November.
Accel investment boosts Swish’s growth
The company claims to have around 70 to 80 unique stock-keeping units (SKUs) on its app, covering various categories such as indulgences, snacks, beverages, and meals.
The rapid food delivery market in India has seen significant growth, with quick commerce becoming a $5.5 billion industry in less than four years. Swish’s entry into this market is expected to intensify competition for established players like Swiggy and Zomato. Swiggy recently launched its own 10-minute food delivery service called Bolt, while Zomato had introduced a similar service named Instant in 2022, which was later rebranded as Everyday due to a lack of product-market fit.
Accel, having previously seen substantial returns on its investments in other food tech startups, anticipates similar success with Swish. The startup’s CEO, Aniket Shah, expressed his enthusiasm for the fundraise on LinkedIn, stating, “Swish began with a bold goal—to deliver delicious, fresh food in 10 minutes. With this fundraise, Swish is all set to build India’s fastest and most delightful food delivery platform.”
The Swish team, who had previously worked together at Pillow, a now-defunct Web3 technology-based neobank, decided to pursue their entrepreneurial ambitions together, leading to the creation of the rapid food delivery startup.
As Swish enters the market with substantial funding and ambitious goals, the rapid food delivery industry is poised for increased competition and innovation.
