India’s Snabbit raises $56M as on-demand home services surge
▼ Summary
– Snabbit, an Indian on-demand home services startup, closed a $56 million Series D funding round, valuing the company at around $350 million.
– The round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments.
– Founded in 2024, Snabbit processes over 40,000 jobs daily with more than 15,000 workers across five cities.
– The startup reduced its per-order losses by about 50% and customer acquisition costs by roughly 65%.
– Investor interest in India’s on-demand home services sector is growing, with rival Pronto seeking funding and Urban Company reporting over one million monthly bookings.
Snabbit, an Indian on-demand home services startup, has secured $56 million in Series D funding, confirming an earlier report by TechCrunch. The round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments, valuing the Bengaluru-based company at roughly $350 million , nearly double its $180 million valuation from just six months ago, according to a source familiar with the deal. Existing backers Nexus Venture Partners and Lightspeed also participated, along with FJ Labs. To date, Snabbit has raised a total of approximately $112 million.
Launched in 2024, Snabbit now processes over 40,000 jobs daily through a network of more than 15,000 workers across five cities. The platform specializes in services like cleaning, dishwashing, and laundry, capitalizing on surging demand for rapid, on-demand home services in urban India.
The startup reports that its loss per order has dropped by about 50%, while customer acquisition costs have fallen by roughly 65%. These improvements signal growing operational efficiency as the company scales.
Snabbit’s latest funding arrives amid a resurgent investor appetite for India’s home services sector. Rival Pronto is reportedly in talks to raise fresh capital, while publicly listed Urban Company has surpassed one million monthly bookings, underscoring the market’s momentum.
(Source: TechCrunch)
