Swish, a Bengaluru-based food delivery startup, has raised $38 million in a new funding round, as the 18-month-old company continues to draw investor interest for its 10-minute fresh food delivery service. The Series B round, led by Hara Global and Bain Capital Ventures, also saw participation from Accel, Stride Ventures, and Alteria Capital. It values Swish at $139 million post-money, more than double its valuation a year ago, and brings total funding to $54 million. The funding comes as ultra-fast food delivery remains a challenging business to sustain in India. Larger platforms such as Swiggy, Zepto, and Zomato have in recent months scaled back or shut down their rapid-delivery experiments, citing operational complexity and cost pressures. Founded in 2024, Swish operates a full-stack business model, owning its kitchens, supply chain, and delivery network, and focusing on dense, hyperlocal clusters with delivery radii of around 1 kilometer. This gives Swish better economics, it...
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