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

In Brief

Snabbit, an Indian on-demand location services startup, has closed a $56 cardinal backing round, confirming TechCrunch’s earlier report.

Co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments, the company’s Series D circular values the Bengaluru-based startup astatine astir $350 million, according to a idiosyncratic acquainted with the matter. That’s up from $180 million astir six months ago. Existing investors Nexus Venture Partners and Lightspeed besides participated, alongside FJ Labs. The institution has raised astir $112 cardinal successful total.

Founded successful 2024, Snabbit said it is present processing implicit 40,000 jobs regular crossed a web of much than 15,000 workers successful 5 cities, offering services specified arsenic cleaning, dishwashing, and laundry arsenic request for rapid, on-demand location services grows successful municipality India.

The startup said the magnitude it loses connected each bid has fallen astir 50%, portion its lawsuit acquisition costs person shrunk astir 65%.

Snabbit’s fundraise comes arsenic capitalist involvement successful India’s on-demand location services assemblage heats up, with rival Pronto also successful talks to rise caller capital and publically traded Urban Company reporting much than 1 cardinal monthly bookings.

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