Swish Funding: Startup Bags $2 Mn From Accel

Swish Bags $2 Mn From Accel To Deliver Food In 10 Minutes

SUMMARY

The funding round also saw participation from angel investors such as ex-Swiggy Instamart head Karthik Gurumurthy, and Urban Company founders Abhiraj Bhal and Varun Khaitan

Swish plans to use the capital expand its operations and scale its presence across Bengaluru

Founded in August this year by Aniket Shah, Saran S and Ujjwal Sukheja, Swish delivers a range of fast food offerings in 10 to 15 minutes via its app

About three months after its incorporation, 10-minute food delivery startup Swish has raised $2 Mn (over 16 Cr) in a seed funding round led by venture capital (VC) firm Accel.

The round also saw participation from angel investors such as ex-Swiggy Instamart head Karthik Gurumurthy, and Urban Company founders Abhiraj Bhal and Varun Khaitan.

The startup plans to use the capital to expand its operations and scale its presence across Bengaluru.

Swish began its operations in HSR Layout of Bengaluru in August and has now expanded to parts of Bellandur.

In a statement, the startup said it plans to open about 150 “centres” across major areas in Bengaluru. Further, it plans to expand to other Tier-1 cities soon.

Founded by Aniket Shah, Saran S and Ujjwal Sukheja, Swish delivers a range of fast food offerings in just 10 to 15 minutes via its app. The app, which is available on Google Play Store and Apple Store, has seen over 10K downloads since launch.

Swish makes deliveries via its cloud kitchen, named Pod. In August, the startup’s founders claimed that it was receiving approximately 150-200 orders daily, with an average order value of INR 250-300.

Commenting on the funding, Accel partner Abhinav Chaturvedi said, “Customer expectations around delivery times have shifted with the rise of quick commerce. Swish is tackling this challenge with a new approach, rethinking the supply chain to bring the same ultra-fast experience to food delivery through their delight centres.”

The development comes at a time when the competition in the 10-minute food delivery segment is on the rise. The likes of Swiggy and Zepto are also expanding their presence in this space.

On Monday (November 18), quick commerce major Zepto announced expansion plans for its 10-minute food delivery service ‘Zepto Cafe’ beyond Mumbai. It plans to take Zepto Cafe live in 120 cities, including Delhi NCR, Bengaluru, Hyderabad, Chennai.

Last month, Swiggy launched its 10-minute food delivery service Bolt in six cities – Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune. Meanwhile, Zomato is also reported to be mulling reentering the space via its quick commerce arm Blinkit.