Indian on-demand home services startup Snabbit has closed a $56 million funding round, confirming a previous report by TechCrunch.
The company’s Series D round, jointly led by Susquehanna Venture Capital, Mirae Asset Venture Investment’s Unicorn Growth Fund and Bertelsmann India Investments, values the Bengaluru-based startup at around $350 million, according to people familiar with the matter. This is an increase from $180 million about six months ago. Existing investors Nexus Venture Partners and Lightspeed also participated along with FJ Labs. The company raised a total of $112 million.
Founded in 2024, Snabbit said it caters to the growing demand for fast, on-demand home services in Indian cities and currently handles more than 40,000 tasks daily through its network of more than 15,000 employees across five cities, providing services such as cleaning, dishwashing and laundry.
The startup said the amount lost on each order has been reduced by about 50%, and customer acquisition costs have also been reduced by about 65%.
Snabbit’s funding comes as investor interest in India’s on-demand home services sector heats up. Rival Pronto is also in talks to raise new capital, and the publicly traded Urban Company is reporting more than 1 million monthly bookings.
