India's Snabbit Raises $56M in Series D Funding Amid Booming On-Demand Home Services Market

Snabbit, a leading Bengaluru-based startup, has successfully closed a $56 million Series D funding round.

Founded in 2024, the company specializes in on-demand home services like cleaning, dishwashing, and laundry across five Indian cities.

Funding Boost and Key Investors

The round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments.

Existing backers Nexus Venture Partners and Lightspeed, along with FJ Labs, also joined the investment.

Impressive Growth Metrics

Snabbit now handles over 40,000 jobs daily through a network of more than 15,000 workers.

The startup has reduced losses per order by about 50% and slashed customer acquisition costs by roughly 65%.

India's Thriving Home Services Sector

This funding brings Snabbit's total capital raised to approximately $112 million, with valuation surging to around $350 million from $180 million six months prior.

Urban India's demand for quick home services is surging, fueling investor enthusiasm in the sector.

Competitors like Urban Company, which boasts over one million monthly bookings, and Pronto, seeking fresh capital, highlight the competitive landscape.

The investment underscores Snabbit's potential to dominate on-demand services amid rapid urbanization.

Looking ahead, the funds will likely expand operations, enhance technology, and capture more market share in India's growing gig economy.