Swish raises $24 mn led by Bertelsmann India Investments

BENGALURU: Ten-minute food delivery startup Swish has raised $24 million led by Bertelsmann India Investments (BII), as it looks to expand its network of neighbourhood kitchens across existing and new markets.Existing investors Accel, Bain Capital Ventures and Hara Global also participated in the round. Swish did not disclose the valuation at which the capital was raised.The company said its monthly orders have tripled since March this year to cross one million, despite its operations currently covering about 50 pincodes. Lunch and dinner have overtaken snacks and late-night orders as its largest consumption occasions, indicating that the platform is increasingly being used for regular meals.Swish plans to use the capital to expand its kitchen network across Delhi NCR and Bengaluru, enter new cities and strengthen its supply-chain infrastructure. It aims to build more than 1,000 kitchens over the next five years, although it did not disclose its current kitchen count.Founded by Aniket Shah, Ujjwal Sukheja and Saran S, Swish operates its own kitchens, technology platform and last-mile delivery fleet. Its neighbourhood kitchens typically serve customers within a radius of one kilometre. The startup currently operates across Bengaluru, Gurugram, Noida, Delhi and Ghaziabad.Swish said its kitchens use automated equipment and have an average preparation time of less than four minutes. Its menu has expanded to more than 250 items across over 20 food categories. More than 80% of its orders are delivered within 15 minutes, according to the company.“An average Indian consumer consumes food 90–100 times a month, but orders online only four times,” said Shah, cofounder and CEO of Swish. He said the company wants to make freshly prepared food delivery more frequent and eventually serve 100 million consumers.BII managing director Pankaj Makkar said Swish’s ownership of kitchens, logistics and technology allows it to address freshness, affordability and convenience together.BII typically invests in early growth-stage companies from Series A to Series C. Its Indian portfolio includes Shiprocket, Eruditus, Licious, Nat Habit, LetsTransport, Snabbit and Orange Health Labs.Get the latest Business News and Live updates. Download the TOI app.