Nov 19, 09:47 AM

Bengaluru's Swish Raises $2 Million from Accel for 10-Minute Food Delivery Amid Zomato's 30% Growth Forecast

Bengaluru-based food delivery startup Swish has successfully raised $2 million in its initial funding round, led by Silicon Valley's Accel. The funds will be allocated to expand operations and enhance its delivery model throughout Bengaluru. This development comes amid a competitive landscape in the quick commerce sector, where established players like Zomato and Swiggy are also vying for market share. Zomato has projected a 30% annual growth rate for its food delivery business over the next five years, with this segment currently accounting for approximately 58% of its total revenue. Analysts suggest that the entry of new players like Swish could intensify competition, particularly in the 10-minute delivery segment, which has seen rapid growth in recent years.