India's Snabbit raises $56M in Series D funding round
Original: India’s Snabbit closes $56M round as investor interest in on-demand home services heats up
Why This Matters
Demonstrates strong investor confidence in India's growing on-demand services market
Indian on-demand home services startup Snabbit closed a $56 million Series D round co-led by Susquehanna Venture Capital, Mirae Asset, and Bertelsmann India. The funding values the Bengaluru company at $350 million, nearly double its $180 million valuation six months ago.
Founded in 2024, Snabbit processes over 40,000 daily jobs across 15,000+ workers in five cities, offering cleaning, dishwashing, and laundry services. The company has raised $112 million total and reports 50% reduction in per-order losses and 65% decrease in customer acquisition costs. Existing investors Nexus Venture Partners and Lightspeed also participated alongside FJ Labs. The funding comes amid growing investor interest in India's on-demand home services sector, with competitor Pronto also raising capital and public company Urban Company reporting over one million monthly bookings.