10-minute food delivery startup Swish in pitch meeting with Bertelsmann India

30 Jun 2026, 06:09 by KalingaTV Bureau · KalingaTV

Bengaluru based quick food delivery startup Swish is in active discussions to secure a fresh round of capital from Bertelsmann India Investments. The potential funding engagement comes months after the ultra-fast food-tech platform closed its last round of institutional funding, indicating a fierce push for market share dominance in India’s fast-changing quick commerce dining segment.

The startup’s fundraising velocity comes after a massive $38 million Series B round closed in March 2026, led by Bain Capital Ventures and existing investor Hara Global Capital, with participation from Accel. That round pushed Swish’s post-money valuation to $140 million, more than doubling its previous valuation of $60 million in its Series A round in 2025. In total, the young company has secured roughly $54 million in equity and venture debt over three funding rounds within a span of 18 months.

This continuous investor interest stands out at a time when major quick-commerce and food delivery incumbents are recalibrating their rapid-delivery models due to intense profitability and structural pressures. For context, Swiggy recently closed down its 10-minute snacking app Snacc and Zepto scaled back its Zepto Café format by closing nearly 200 outlets. Swish currently goes head-to-head against Blinkit’s Bistro, Swiggy’s 15-minute delivery feature Bolt, and cloud kitchen market leaders like Rebel Foods and Curefoods, alongside emerging pilots from platforms like Flipkart and Rapido’s Ownly.

Founded in 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S., Swish differentiates itself from standard aggregation marketplaces by operating a vertically integrated, full-stack model. The company owns and manages its physical cloud kitchens which it calls ‘delight centres’ operating within a hyper-localized 1 to 1.5 km delivery radius to fulfill fresh food orders in about 10 minutes. While the company recorded a revenue of ₹4 crore and a net loss of ₹19 crore for its initial operating period ending March 31, 2025, its order volume has scaled extensively to surpass 20,000 daily orders in Bengaluru alone.

While the exact deal contours and valuation adjustments for the upcoming round remain under discussion, Swish plans to deploy fresh capital to expand its operations outside of Bengaluru into deep urban markets like Delhi-NCR. Additionally, the funds will be directed toward kitchen automation, expanding its multi-meal culinary catalog, and building robust backend supply chains. The potential deal aligns well with the core investment thesis for Bertelsmann India Investments, which manages over $800 million in assets under management and has backed platforms such as Licious and Shiprocket, backing supply-chain-heavy, direct-to-consumer digital infrastructure.

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