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Swish is raising fresh capital from Bertelsmann India Investments, adding a new institutional investor to its captable. The round comes just months after its last fundraise, pointing to continued investor interest in the emerging 10-minute food delivery model. The Bengaluru-based startup is raising Rs 224.54 crore (around $24 million) in an extended Series B round led by Bertelsmann India, with the participation from its existing investors. This will be the company’s second funding round this year. In March, Swish raised $38 million in a round led by Hara Global and Bain Capital. The board at Swish has passed a special resolution to issue 4,123 Series B2 compulsory convertible preference shares at an issue price of Rs 5,44,616 each to raise the above mentioned amount, its regulatory filing accessed from the Registrar of Companies shows. Bertelsmann India Investments will lead the round with an investment of Rs 143.34 crore ($15 million), joining Swish’s captable. Bain Capital Ventures will invest Rs 62 crore ($6.5 million), while Accel and Hara Global will participate with Rs 14.32 crore and Rs 4.8 crore, respectively. According to the Entrackr’s estimates, Swish’s valuation will surge over 30% to Rs 1,653 crore or around $175 million post-money, from Rs 1,268 crore in its previous $38 million round. Following the allotment of the new round, Bertelsmann India Investments will acquire an 8.67% stake in Swish. Accel will remain the largest shareholder with a 23.48% stake, followed by Hara Global with 17.93% and Bain Capital Ventures with 9.97%. Its co-founders Aniket Shah, Sureshkumar Saran and Ujjwal Sukheja will retain 10.98% each. In June, Moneycontrol reported that Swish was in talks to raise $20 million from Bertelsmann India Investments. Founded in 2024, Swish operates a 10 minute food delivery model through a network of cloud kitchens located close to demand clusters. The company focuses on delivering meals within a limited radius to enable faster turnaround times. Prior to this round, the firm had raised around $54 million, including a $14 million round in March 2025, which was exclusively reported by Entrackr. Launched in July 2024, Swish reported Rs 4 crore in revenue and a total loss of Rs 19 crore during the eight-month period of FY25. The company is yet to file its FY26 financial results. Swish operates in a market that is no longer short of well-funded competitors. Blinkit’s Bistro, Zepto Cafe and Swiggy’s Bolt are already testing different approaches to faster food delivery, while cloud-kitchen players such as Rebel Foods and Curefoods add another layer of competition. For Swish, the challenge will be to build enough order density and repeat demand to make its focused model work better than larger platforms with deeper distribution and existing consumer traffic.
document fetched 2026-09-08 02:59