Swift has successfully raised $2.3 million over two funding rounds, positioning itself as a key player in the eCommerce logistics and checkout solutions market. The platform offers a developer-first approach, integrating various service providers to streamline shipping and checkout processes for brands and businesses.
Keep reading to delve into the details of Swift's funding journey and the investors who are backing this innovative platform.
What Is Swift?
Swift, founded by Prayas Mittal, Shyam Kalita, and Debanshu Sinha, is headquartered in Bengaluru, India. The company focuses on simplifying shipping and checkout processes for brands and businesses.
With a team of 51-200 employees, Swift offers a developer-first platform that integrates multiple service providers in the shipping value chain into one easy-to-use solution. This platform is accessible via a self-serve user interface and a public API.
Swift's mission is to enhance the eCommerce experience by providing comprehensive logistics and checkout solutions, making it easier for businesses to manage their shipping and fulfillment needs.
How Much Funding Has Swift Raised?
- Amount Raised: $2.2 million
- Date: July 2021
- Lead Investors: Kalaari Capital
- Motivation Behind the Round: The funds raised will be used to scale engineering efforts and simplify complex business workflows across checkout, payments, and fulfillment.
Swift has raised a total of $2.2 million in funding. The current valuation is $10 million (~estimated).
Key Investors
- Kalaari Capital
- Details: Kalaari Capital is a leading venture capital firm in India that invests in early-stage startups. They have a strong track record of supporting technology-driven companies.
- Investment Focus Areas: Technology, eCommerce, Healthcare
- Notable Investments: Dream11, Cure.fit, Myntra
- FirstCheque
- Details: FirstCheque is an early-stage investment firm that focuses on providing initial funding to startups. They aim to be the first institutional investor in promising new ventures.
- Investment Focus Areas: Seed funding, Technology, Consumer Products
- Notable Investments: Khatabook, Fynd
- Indian Angel Network
- Details: Indian Angel Network is a group of angel investors who invest in early-stage businesses. They provide not just capital but also mentorship and strategic guidance.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Druva, Box8, WebEngage
- Other Angel Investors
- Details: Various individual angel investors have also contributed to Swift's funding rounds. These investors typically bring diverse expertise and networks to the table.
- Investment Focus Areas: Varies by individual
- Notable Investments: Varies by individual
What's Next for Swift?
Swift is poised to capitalize on the burgeoning D2C ecosystem and vertical e-commerce market in India. With the rapid growth of online brands and SMEs, the opportunity to streamline order management, warehouse management, and shipping processes is immense. This positions Swift to help smaller players compete with giants like Amazon and Flipkart.
As the demand for efficient eCommerce solutions grows, Swift may attract further investment to scale its operations and expand its product offerings. However, the company will need to navigate the complexities of scaling engineering efforts and ensuring widespread adoption of its solutions among SMBs and D2C brands.
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