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

Source: TechCrunch

Snabbit closes $56 million Series D round

Snabbit, an Indian on‑demand home services startup, has closed a $56 million Series D funding round, confirming TechCrunch’s earlier report.

Funding round details

• Co‑lead investors: Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments.
• Valuation: Roughly $350 million, up from $180 million six months earlier.
• Existing participants: Nexus Venture Partners, Lightspeed, and FJ Labs.
• Total capital raised to date: About $112 million.

Company overview

• Founded: 2024.
• Operations: Processes over 40,000 jobs daily across a network of more than 15,000 workers in five cities.
• Services offered: Cleaning, dishwashing, laundry, and other rapid, on‑demand home services.

Performance metrics

• Loss per order has fallen about 50 %.
• Customer acquisition costs have shrunk roughly 65 %.

Industry context

Investor interest in India’s on‑demand home‑services sector is heating up:

• Rival Pronto is reportedly in talks to raise fresh capital (source).
• Publicly traded Urban Company reports more than one million monthly bookings.

Image

Image credit: Snabbit