Swish Club, a Bengaluru-based Device-as-a-Service (DaaS) platform, has raised $4.5 million in a pre-Series A funding round. This includes $3.3 million in equity and $1.2 million in debt financing. The funding was led by Powerhouse Ventures, with participation from Blume Ventures, Founders Fund, and other investors.
Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club helps businesses manage their devices, from sourcing to security. The company offers laptop rentals and smartphone leasing for enterprises, making technology more affordable. With this funding, Swish Club plans to expand its services and enhance its AI-powered device management solutions.
What is Swish Club?
Swish Club is a Bengaluru-based Device-as-a-Service (DaaS) platform that provides businesses with a seamless way to manage their corporate devices, such as laptops and smartphones. Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, the company offers enterprise device rentals and smartphone leasing solutions, allowing businesses to access the latest technology without the burden of large upfront costs.
Swish Club manages the entire device lifecycle, from sourcing and configuration to administration, security, and upgrades. It also provides pre-bundled software solutions, including an Asset Management Portal, Mobile Device Management, Antivirus, and Device Cleaner, ensuring enterprise-grade security and compliance.
With a focus on cost efficiency, Swish Club helps companies reduce IT expenses from 10% to just 3% of their total annual capital expenditure. The company has secured over 125 enterprise clients, including HDFC Life, PepsiCo, and Zolvit, and recently raised $4.5 million in funding to further develop its AI-powered device management solutions.
Why is This Funding Significant?
This $4.5 million pre-Series A funding is significant for Swish Club as it will help the company expand its product offerings, enhance AI-powered device management, and accelerate revenue growth. The funding includes $3.3 million in equity and $1.2 million in debt financing, with participation from leading investors like Powerhouse Ventures, Blume Ventures, and Founders Fund.
The investment highlights the growing demand for Device-as-a-Service (DaaS) solutions in India, allowing businesses to reduce IT costs, streamline device management, and improve security compliance. The debt portion of the funding will be used for device financing, making it easier for enterprises to adopt Swish Club’s rental and leasing solutions.
With this financial boost, Swish Club aims to expand its market reach, onboard more enterprise clients, and strengthen its position against global competitors like Grover and Everphone. Additionally, it is working on an Agentic AI-powered device telemetry product, set to launch in April 2025, which will further automate IT support and enhance enterprise device management.
How Will the Funds Be Used?
Swish Club plans to use the $4.5 million funding to enhance its product offerings, expand its team, and accelerate revenue growth. A significant portion will be invested in product development, particularly in improving its AI-powered device management solutions, including the Agentic AI-powered device telemetry product, set to launch in April 2025.
This innovation will help automate IT support and optimize enterprise device management. Additionally, the company will hire top talent to strengthen its engineering, sales, and customer support teams, ensuring continuous innovation and better service. Swish Club also aims to expand its market reach by onboarding more enterprise clients and strengthening its Swish Club presence in India’s growing Device-as-a-Service (DaaS) market, competing with global players like Grover and Everphone.
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The $1.2 million debt portion of the funding will be allocated to device financing, making it easier for businesses to adopt Swish Club’s laptop rental and smartphone leasing solutions without high upfront costs. With this financial boost, Swish Club is set to revolutionize enterprise device management by offering businesses a cost-effective and hassle-free way to access the latest technology.
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Founders’ Perspective
The founders of Swish Club—Dushyant Sapre, Suraj Kumar, and Jai Anand—believe that Device-as-a-Service (DaaS) is the future of enterprise device management, helping businesses streamline operations and reduce IT costs.
The founders see this funding as a crucial step toward expanding their market presence, improving AI-driven device management, and making enterprise-grade security solutions more accessible. Their vision is to transform how businesses handle corporate devices, ensuring a seamless, cost-effective, and tech-driven approach to IT asset management.
Key Takeaways
- Successful Fundraising – Swish Club raised $4.5 million in a pre-Series A round, with $3.3 million in equity and $1.2 million in debt financing, led by Powerhouse Ventures, along with other major investors.
- Expansion of Device-as-a-Service (DaaS) Solutions – The company provides enterprise device rentals and smartphone leasing, offering businesses a cost-effective way to access the latest technology without large upfront payments.
- AI-Powered Innovations – Swish Club is working on an Agentic AI-powered device telemetry product, set to launch in April 2025, which will automate IT support and enhance device management.
- Market Growth and Client Base – Since its launch in April 2024, Swish Club has onboarded over 125 enterprise clients, including Max Life Insurance, HDFC Life, PepsiCo, and Zolvit, with plans to expand further.
- Cost Savings for Businesses – Swish Club helps companies reduce IT costs from 10% to just 3% of their total annual capital expenditure by removing depreciating assets from balance sheets.
Conclusion:
Swish Club’s $4.5 million funding marks a significant milestone in its journey to revolutionize enterprise device management in India. With plans to enhance its AI-powered solutions, expand its Device-as-a-Service (DaaS) offerings, and onboard more enterprise clients, the company is set for rapid growth.
The launch of its Agentic AI-powered device telemetry product in April 2025 will further automate IT support and optimize device management. By reducing IT costs and simplifying corporate device handling, Swish Club is positioning itself as a leader in India’s DaaS market, ready to compete with global players while driving innovation in enterprise technology solutions.
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