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India’s Snabbit closes $56M round as investor interest in on-demand homeservices heats up
India's Snabbit, a startup providing on-demand home services, raised $56 million in a Series D funding round co-led by Susquehanna Venture Capital and Mirae Asset. The round values the company at approximately $350 million, a significant increase from $180 million six months ago. Snabbit processes over 40,000 daily jobs with a network of 15,000 workers in five cities, as demand for home services grows.
Key points
- Snabbit raised $56 million in a Series D funding round.
- Funding co-led by Susquehanna Venture Capital, Mirae Asset Venture, and Bertelsmann India.
- Company valuation increased from $180 million to $350 million in six months.
- The startup now handles 40,000 jobs daily through a workforce of over 15,000.
- Customer acquisition costs reduced by 65%, and order loss decreased by 50%.
- Investors are showing increasing interest in India's on-demand home services sector.
Why it matters
- The surge in funding equals broader trends in the on-demand economy driven by convenience.
- Reflects growth in urban services in India, correlating with increased urbanization.
- Similar to trends seen with other startups like Urban Company and Pronto in raising capital.
- Aligns with 2025 IT trends emphasizing the gig economy and flexibility in service delivery.
Snabbit's successful funding round illustrates the heightened investor interest in India’s on-demand services, signaling potential growth and innovation in the sector as urban demand rises.