Total amount raised
$2.3 Millions
Latest funding date
7/1/2021
Location
Swift has successfully raised funding from notable investors including Kochi Holdings and IAN Group, among others. The company specializes in providing comprehensive eCommerce logistics and checkout solutions in India.
Keep reading to explore the intricacies of Swift's fundraising journey and the investors backing this innovative platform.
What Is Swift?
Founded in November 2018, Swift is based in Bangalore, Karnataka, India. The company was established by Debanshu Sinha, Prayas Mittal, and Shyam Kalita.
Swift specializes in providing logistics and checkout solutions for eCommerce businesses in India. Their platform helps businesses reduce returns, increase sales conversion, and improve the shipping experience.
With a team of 11-50 employees, Swift continues to innovate in the eCommerce logistics space, offering services like distributed warehousing and a proprietary logistics intelligence platform.
How Much Funding Has Swift Raised?
- Seed Round
- Amount Raised: $2.2M
- Date: July 2021
- Lead Investors: Kalaari Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale engineering efforts and simplify complex business workflows across checkout, payments, and fulfillment.
- Venture Round
- Amount Raised: Undisclosed
- Date: January 2023
- Lead Investors: Kochi Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to simplify fulfillment for brands and businesses in India.
Total Amount Raised: $2.2M
Current Valuation: Not publicly disclosed
Key Investors
- Kalaari Capital
- Details: Kalaari Capital is a leading venture capital firm in India, known for investing in early-stage startups. They led the pre-Series A funding round for Swift.
- Investment Focus Areas: Technology startups, D2C ecosystem, vertical e-commerce.
- Notable Investments: Dream11, Cure.fit, Myntra.
- FirstCheque
- Details: FirstCheque is an early-stage investment firm that focuses on providing initial funding to startups. They participated in Swift's seed round.
- Investment Focus Areas: Early-stage startups, technology-driven companies, innovative business models.
- Notable Investments: Khatabook, Fynd.
- Indian Angel Network (IAN Group)
- Details: Indian Angel Network is a group of angel investors who invest in early-stage businesses. They have been involved with Swift since the seed round.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Druva, Box8, PregBuddy.
- Kochi Holdings
- Details: Kochi Holdings participated in Swift's venture round in January 2023. They are known for their involvement in various investment activities.
- Investment Focus Areas: General investment, no specific focus area mentioned.
- Notable Investments: Specific notable investments not mentioned.
- Other Angel Investors
- Details: Various individual angel investors participated in Swift's funding rounds, providing additional financial support.
- Investment Focus Areas: Early-stage startups, innovative and high-potential business models.
- Notable Investments: Specific notable investments not mentioned.
What's Next for Swift?
Swift stands at the cusp of a significant opportunity, with the D2C market in India projected to reach $100 billion by 2025. The company is well-positioned to capitalize on this growth by enhancing its platform to simplify online shopping for SMEs, D2C, and omnichannel brands. As internet spending in India grows at over 39% CAGR, Swift's solutions for checkout, payments, and fulfillment are set to become increasingly vital.
Future fundraising rounds seem likely as Swift continues to scale its operations and innovate its offerings. The company may attract further investment to support its mission of providing seamless e-commerce experiences. However, challenges such as competing with established marketplaces and ensuring seamless integration for smaller brands remain. Swift's ability to navigate these hurdles will be crucial in maintaining its growth trajectory.
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