"Swish has raised $38 million in a Series B funding round, valuing the company at $139 million post-money, more than double its previous valuation of $60 million."
"Unlike competitors that operate as aggregators, Swish owns its kitchens and employs its own delivery staff, focusing on a one-kilometre radius for efficient service."
"The retreat of major players like Swiggy and Zomato from the rapid delivery space highlights the challenges of the 10-minute food delivery model."
Swish has raised $54 million in 18 months, valuing itself at $139 million. The company focuses on owning kitchens, technology, and delivery to achieve ultra-fast food delivery. This strategy contrasts with larger competitors like Swiggy, Zomato, and Zepto, which have retreated from the 10-minute delivery market. Swish's funding round was led by Hara Global and Bain Capital Ventures, with participation from Accel, Alteria Capital, and Stride Ventures. The company aims to operate within a one-kilometre radius of its kitchens, employing its own delivery staff and managing its consumer app.
Read at TNW | Startups-Technology
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