India’s Snabbit Secures $56M Funding as Demand for On-Demand Services Surges

Snabbit Secures $56 Million Funding Round

Snabbit, a prominent Indian on-demand home services startup, has successfully concluded a significant $56 million funding round, in line with earlier reports from TechCrunch.

The Series D funding round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments. This latest investment has propelled the valuation of the Bengaluru-based startup to approximately $350 million, a substantial increase from its previous valuation of $180 million just six months ago. Noteworthy existing investors such as Nexus Venture Partners and Lightspeed, along with FJ Labs, also actively participated in this round. To date, Snabbit has successfully raised a total of $112 million in funding.

Established in 2024, Snabbit has rapidly expanded its operations to process over 40,000 jobs daily through a vast network of more than 15,000 skilled workers across five major cities in India. The company offers a diverse range of services, including cleaning, dishwashing, and laundry, catering to the surging demand for swift and efficient on-demand home services in urban areas.

One of the key highlights of Snabbit’s recent performance is its notable achievement in reducing losses per order by approximately 50% and significantly cutting down customer acquisition costs by around 65%.

The influx of funding into Snabbit comes at a time when investor interest in India’s on-demand home services sector is reaching new heights. Competitor Pronto is also actively seeking additional capital, while publicly traded Urban Company has reported an impressive milestone of more than one million monthly bookings.