India’s Snabbit closes $56M round as investor interest in on-demand home services heats up

Indian startup Snabbit, specializing in on-demand home services, has successfully closed a funding round worth $56 million, as reported by TechCrunch. This Series D funding was co-led by notable investors including Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments. The recent round values the Bengaluru-based company at approximately $350 million, a significant increase from its valuation of $180 million just six months ago. In addition to the new investors, existing backers such as Nexus Venture Partners and Lightspeed also contributed to the funding, alongside FJ Labs. To date, Snabbit has raised a total of around $112 million since its inception in 2024. The startup claims to be handling over 40,000 service requests each day, supported by a workforce of more than 15,000 employees across five cities. Their offerings include essential services like cleaning, dishwashing, and laundry, catering to the rising demand for quick home service solutions in urban India. Notably, Snabbit has made strides in improving its operational efficiency, reporting a 50% reduction in losses per order and a 65% decrease in customer acquisition costs. This funding round comes at a time when investor interest in India's on-demand home services sector is growing, with competitors like Pronto also seeking new investment and Urban Company boasting over one million bookings each month.