Startup News
Accel Leads $2 Million Seed Funding for Swish to Revolutionize 10-Minute Food Delivery!
Swish, a Bangalore-based rapid food delivery startup, has secured $2 million in seed funding led by Accel. Prominent angel investors, including Urban Company co-founders Abhiraj Bhal and Varun Khaitan, as well as former Swiggy Instamart head Karthik Gurumurthy, also participated in the funding round. The investment will fuel Swish’s expansion across Bengaluru and its future entry into other Tier-1 cities, according to the company’s statement.
A New Player in the Rapid Delivery Market
Founded in 2024 by Aniket Shah, Ujjwal Sukheja, and Saran S, Swish operates on a 10-minute delivery model using strategically located cloud kitchens, referred to as “delight centers.” These centers operate within a 1.5-2 km radius, ensuring quick and hygienic food delivery. The startup launched its operations in Bengaluru’s HSR Layout and has since expanded to Bellandur, gaining traction for its innovative approach to hyperlocal food delivery.
Demand for Speedy Services
Highlighting the demand for quicker services, Swish CEO and co-founder Aniket Shah stated, “We realized that quick commerce, initially seen as a convenience, has quickly become indispensable as people seek faster solutions to their everyday needs. Despite advancements in other categories, food delivery still takes 30-60 minutes, falling short of customer expectations, particularly for instant cravings.”
Market Potential
India’s quick commerce sector is currently valued at billions and is projected to reach $40 billion by 2030. Swish aims to tap into this potential by establishing 150 delight centers across Bengaluru by March 2025, solidifying its position as a leader in the segment.
Competitive Landscape
The rapid food delivery market is becoming increasingly competitive, with established players like Zomato and Swiggy also expanding their quick commerce offerings. Swish’s focus on ultra-fast delivery could give it an edge in capturing market share among consumers seeking immediate food solutions.
Strategic Insights from Investors
Commenting on the investment, Accel partner Abhinav Chaturvedi said, “Customer expectations around delivery times have evolved significantly with the rise of quick commerce. Swish is addressing this challenge by rethinking the supply chain and delivering an ultra-fast experience through their delight centers, bringing innovation to food delivery.”
Unique Operational Model
Swish employs a unique full-stack model that allows it to control all aspects of its operations in-house, including app design, food preparation, delivery mechanics, transport, and supply chain management. This vertical integration helps maintain quality and efficiency while reducing operational costs.
Future Expansion Plans
With plans to scale aggressively, Swish intends to set up additional cloud kitchens (referred to as “Pods”) in high-demand areas of Bengaluru. The startup aims to enhance its menu offerings with healthier options while ensuring that the quality of food remains uncompromised.
Financial Viability
As part of its operational strategy, Swish has managed to keep capital expenditures low while achieving strong unit economics. The startup currently receives approximately 150-200 orders daily, with an average order value of INR 250-300. The founders believe that maintaining high margins—around 70%—on food items will support sustainable growth.
Conclusion
With a unique approach to hyperlocal food delivery and significant backing from investors, Swish is poised to redefine the rapid delivery landscape in India. By focusing on speed and customer satisfaction while leveraging technology and efficient operations, Swish aims to establish itself as a leading player in the burgeoning quick commerce sector.
As it prepares for expansion and continues refining its operational model, Swish represents an exciting development in the Indian food delivery market—one that could potentially disrupt established norms and set new benchmarks for service speed and quality.
India’s deeptech ecosystem has reached a significant milestone with the launch of BIGShift, a premier accelerator programme by Inc42 and India Accelerator designed to empower early-stage startups developing breakthrough technologies. The first cohort comprises 13 innovative startups addressing complex challenges in fields such as artificial intelligence, aerospace, robotics, healthcare, and geospatial analytics. These startups benefitted from specialized capital-readiness training, strategic mentorship, and direct access to investors interested in supporting high-risk, high-reward deeptech ventures, making BIGShift a crucial platform for nurturing India’s next-generation technology leaders.
The accelerator programme uniquely combines virtual bootcamp sessions with a comprehensive two-day in-person masterclass, equipping startups with advanced go-to-market strategies, funding expertise, and a valuable network of experienced operator-mentors. Noteworthy startups from the cohort include ActionSync, focused on enterprise data unification; Polygon Geospatial, delivering AI-powered real-time spatial analytics; Purna AI, which innovates in preventive health through genetic biomarkers; Spacetaxi, pursuing reusable commercial rockets; and VertiFly, specializing in hybrid eVTOL aerial mobility solutions. This diverse group exemplifies the ingenuity and pioneering spirit of Indian deeptech entrepreneurship across multiple high-impact sectors.
BIGShift’s inaugural cohort not only accelerates technological development but also provides critical support mechanisms like pilot project matchmaking, regulatory guidance, and facilitating enterprise collaborations. As these 13 startups transition their groundbreaking solutions from the lab to the marketplace, BIGShift is poised to be a catalyst for deeptech innovation in India, helping transform scientific research into scalable, impactful businesses that will shape the country’s technological future.
Chennai-based deep-tech startup Tan90 Thermal Solutions has raised INR 20 crore (about $2.3 million) in Series A funding, led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners. The fresh capital will help Tan90 expand its energy-efficient cooling solutions across India and into Southeast Asia, the Middle East, and Africa.
Founded in 2019 by IIT alumni Soumalya Mukherjee, Rajnikant Rai, and Shiv Sharma, Tan90 develops innovative phase change materials (PCMs) that enable precise, sustainable cooling for sectors like food logistics, healthcare, and pharmaceuticals. Their technology covers temperatures from –50°C to +80°C, offering up to 40% energy savings and a significant reduction in carbon emissions.
Tan90’s Cooling-as-a-Service platform currently operates in eight Indian cities, serving clients like Swiggy Instamart and Kisaan Konnect, with plans to expand further. Recognized by organizations such as the Bureau of Energy Efficiency and UNIDO, Tan90 aims to make scalable, sustainable cooling infrastructure accessible to enterprises worldwide.
PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.
The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.
PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.
Paytm Grants ₹16.7 Crore ESOPs To Employees Under 2019 Stock Option Plan
Centre Mulls Revoking X’s Safe Harbour Over Grok Misuse
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