Bengaluru-based food delivery startup Swish has secured Rs 282.5 crore, approximately $30 million, in its Series B funding round. The investment is led by existing investor Hara Global and includes participation from Accel India and Bain Capital Ventures.
Swish plans to issue 5,843 Series B compulsory convertible preference shares to raise the mentioned amount, as per regulatory filings. Hara Global Capital will lead the round with a $14 million investment, followed by Bain Capital Ventures and Accel India contributing around $10 million and $7 million, respectively.
Estimates indicate that Swish’s valuation is expected to increase over 2.4 times to around $140 million post-money, compared to $60 million from its previous Series A round.
Accel India will hold the largest stake at 26.2% after the new round, followed by Hara Global at 20.43%. Bain Capital Ventures, a new investor, will possess a 7.19% stake. Swish’s co-founders Aniket Shah, Sureshkumar Saran, and Ujjwal Sukheja will each retain 12.72% ownership.
Founded in 2024, Swish operates on a 10-minute delivery model within a 1.5–2 km radius using cloud kitchens termed delight centers. This funding will likely boost Swish’s technological infrastructure to enhance its ultra-fast food delivery services.
Source: Entrackr : Latest Posts