Swish Secures $2 Million to Compete in India's 10-Minute Food Delivery Race

Swish, a fast-growing food delivery startup, has raised $2 million in funding from Accel and a group of prominent angel investors to challenge industry giants Swiggy, Zomato, Zepto, and others in the rapidly expanding 10-minute food delivery sector. The new investment comes as the quick commerce industry in India continues to thrive, with rapid delivery gaining momentum.

The round also saw participation from former Swiggy executives Karthik Gurumurthy and Karan Arora, Urban Company’s Abhiraj Singh Bhal and Varun Khaitan, along with Scapia’s Arindam Roy and Anil Goteti. This funding is aimed at helping Swish build one of the fastest and most user-friendly food delivery platforms in India.

Also Read: Zepto Nears $100 Million Funding Round Led by Motilal Oswal and Domestic Investors

Quick commerce, a sector that emerged less than four years ago, is now a $5.5-billion industry. Consumers increasingly prefer fast delivery services over traditional kiranas and large e-commerce platforms like Flipkart and Amazon. Following the success of 10-minute grocery delivery services, the demand for rapid food delivery has surged. Zepto, for instance, launched its 10-minute food delivery service, Zepto Cafe, which has already hit an annualized revenue run rate (ARR) of Rs 160 crore, with projections to reach Rs 1,000 crore by FY26.

Swish, founded in May 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S, aims to deliver fresh food in just 10 minutes. The team previously worked at Pillow, a neobank that shut down in 2023, before deciding to build Swish. Shah shared in a LinkedIn post that quick commerce, which started as a convenience, has now become an essential service, especially in food delivery, where current wait times often range from 30 to 60 minutes.

Accel, which previously saw a massive 26X return on its investment in Swiggy, sees similar potential in Swish. Accel’s backing highlights its confidence in Swish’s ability to replicate Swiggy's success in the fast food delivery space.

Industry leaders like Zomato’s Deepinder Goyal and Swiggy’s Sriharsha Majety have expressed similar sentiments regarding the future of 10-minute food delivery. Goyal mentioned that as customer expectations shift towards faster service, food delivery companies will need to adapt. Similarly, Majety emphasized that 10-minute deliveries offer a level of convenience that aligns with modern lifestyles, where consumers no longer want to wait 30 to 40 minutes for food.

Also Read: Zomato vs Swiggy: Macquarie Report Compares Food Delivery and Quick Commerce Businesses

With a growing appetite for rapid food delivery services, Swish is well-positioned to take on established players and help reshape the future of food delivery in India.