Swish Secures New Funding from Bertelsmann India Investments
Swish is actively raising new capital from Bertelsmann India Investments, which adds a significant institutional investor to its list of stakeholders. This funding round has taken place only a few months after the last one, demonstrating ongoing investor enthusiasm for the emerging 10-minute food delivery model.
Funding Details
The Bengaluru-based startup is set to raise Rs 224.54 crore (approximately $24 million) in an extended Series B round, spearheaded by Bertelsmann India. Existing investors are also participating in this round. This marks Swish’s second funding effort this year, following a successful $38 million round in March led by Hara Global and Bain Capital.
Investment Structure
Swish’s board has approved a special resolution to issue 4,123 Series B2 compulsory convertible preference shares at an issue price of Rs 5,44,616 each to generate the indicated capital, according to regulatory filings from the Registrar of Companies. Bertelsmann India Investments will take the lead with an investment of Rs 143.34 crore ($15 million), thereby joining Swish’s capital structure. Additionally, Bain Capital Ventures will invest Rs 62 crore ($6.5 million), while Accel and Hara Global will contribute Rs 14.32 crore and Rs 4.8 crore, respectively.
Valuation Insights
As estimated by Startup Superb, Swish’s valuation is expected to increase by over 30% to Rs 1,653 crore (approximately $175 million) post-money, up from Rs 1,268 crore during the previous $38 million round. After this latest investment, Bertelsmann India Investments will hold an 8.67% stake in Swish. Accel will stand as the largest shareholder with a 23.48% stake, followed by Hara Global at 17.93% and Bain Capital Ventures at 9.97%. The co-founders, Aniket Shah, Sureshkumar Saran, and Ujjwal Sukheja, will each retain a 10.98% stake.
Company Performance
In June, Moneycontrol revealed that Swish was negotiating to raise $20 million from Bertelsmann India Investments. Established in 2024, Swish employs a 10-minute food delivery model through a network of cloud kitchens situated near high-demand areas. The company’s strategy focuses on delivering meals within a restricted radius to ensure rapid turnaround times.
Financial Background
Prior to this funding round, Swish had secured around $54 million, which included a $14 million round reported in March 2025 exclusively by Startup Superb. Since its launch in July 2024, Swish has reported Rs 4 crore in revenue alongside a total loss of Rs 19 crore during the first eight months of FY25. The company has yet to submit its financial results for FY26.
Competitive Landscape
Swish operates amidst a competitive market filled with well-funded rivals. Competitors like Blinkit’s Bistro, Zepto Cafe, and Swiggy’s Bolt are exploring various strategies for faster food delivery. Additionally, cloud kitchen companies such as Rebel Foods and Curefoods introduce another facet of competition.
Moving forward, Swish faces the challenge of developing sufficient order density and repeat customer demand to make its specialised model more effective than the larger platforms that benefit from wider distribution and established consumer traffic.