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10 min food delivery startup Swish raises $14 Mn

EntrackrEntrackr · 3m ago
10 min food delivery startup Swish raises $14 Mn
Medial

Exclusive: 10 min food delivery startup Swish raises $14 Mn Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India. This follows just three months after its $2 million seed round. The board at Swish has passed a special resolution to issue 4,762 Series A compulsory convertible preference shares at an issue price of Rs 2,56,334 each to raise Rs 112.3 crore or $14 million, its regulatory filing accessed from the Registrar of Companies shows. Hara Global Capital led the round with Rs 69.56 crore while Accel India invested Rs 52.18 crore. Kunal Shah-led QED innovation, and Gaurav Munjal (CEO of Unacademy) and Sumer Juneja, investment advisor at SoftBank, participated with Rs 20.5 lakhs, Rs 5 and Rs 30.7 lakh respectively. According to Entrackr's estimates, the company has been valued at around Rs 522 crore or $60 million post-allotment. After the new funding round, Hara Global Capital will own 13.33%, while Accel India will hold a 27.24% stake in the company. Co-founders Aniket Sunil Shah, Sureshkumar Sarana, and Ujjwal Sukheja will each retain a 16.38% share following the Series A round. Founded in 2024, Swish’s 10-minute delivery model operates within a 1.5–2 km radius using cloud kitchens called ‘delight centers,’ ensuring fresh and hygienic food is delivered swiftly through its optimized full-stack approach. Swish is competing in the fast-expanding instant food delivery market, where Zomato, Swiggy, and Zepto are leading the charge. Zomato-owned Blinkit has also launched Bistro, a standalone app for instant food delivery. In December, Bhavish Aggarwal-led Ola entered the segment, while emerging players like Magicpin and Zing are gaining traction. The latest entrant to the space is cloud kitchen unicorn Rebel Foods, which has introduced a new app called QuickiES.

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Rebel Foods launches 15-min food delivery app ‘QuickiES’

EntrackrEntrackr · 4m ago
Rebel Foods launches 15-min food delivery app ‘QuickiES’
Medial

Rebel Foods launches 15-min food delivery app ‘QuickiES’ Cloud kitchen unicorn Rebel Foods is making a foray into the 15-minute food delivery segment to compete with foodtech giants like Zomato and Swiggy. In a LinkedIn post, EatSure co-founder and CEO Sagar Kochhar announced that Rebel Foods has launched its 15-minute food delivery app, QuickiES. Co-founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods operates a network of cloud kitchens and restaurants across multiple countries. It owns and operates several quick-service restaurant (QSR) brands, including Behrouz Biryani, Mandarin Oak, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, Firangi Bake, The Biryani Life, and Wendy’s. Rebel Foods claims to operate over 450 cloud kitchens across India, the MENA region, Indonesia, the UK, and 75 Indian cities. In FY24, the company’s revenue from operations increased to Rs 1,420 crore, while its losses narrowed by more than 42% to Rs 378 crore during the same period. The Mumbai-based startup has raised $773 million in funding to date from investors such as KKR, Temasek, Lightbox, Evolvence, and others. The instant food delivery market is becoming increasingly competitive, with Zepto launching a dedicated app for Zepto Cafe, promising 10-minute food deliveries. Meanwhile, Zomato-owned Blinkit has introduced Bistro, a standalone app for instant food delivery. Similarly, Swiggy has launched a standalone app, SNACC, for 15-minute food delivery. Zomato has also entered the quick food delivery segment, while emerging platforms like Swish, Magicpin, and Zing are gaining momentum.

Accel backs 10-minute food delivey startup Swish

EntrackrEntrackr · 7m ago
Accel backs 10-minute food delivey startup Swish
Medial

10-minute food-delivery startup Swish has raised $2 million in its maiden funding round led by venture capital firm Accel. Angel investors Abhiraj Bhal and Varun Khaitan, former Swiggy Instamart head Karthik Gurumurthy, and others have also participated in the round. The proceeds will be used to expand operations and ramp up its delivery model across most areas of Bengaluru, with plans to extend into other tier-I cities. Founded in 2024 by Shah, Ujjwal Sukheja, and Saran S, Swish oversees the entire process—from food preparation to delivery—operating within a compact 1.5–2 km radius. The company operates several cloud kitchens in Bengaluru's HSR Layout and Bellandur areas. By the end of November, it plans to expand services to four Bengaluru regions, including new additions Koramangala and Sarjapur. The startup claims to have about 70 to 80 unique stock-keeping units (SKUs) on the app, covering a variety of categories including indulgences, snacks, beverages, and meals. Swiggy recently introduced its 10-minute food delivery service, Bolt. Meanwhile, Zomato launched a similar service called Instant in 2022 but later rebranded it to Everyday, citing a lack of product-market fit.

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