Snabbit, a Mumbai-based startup founded in 2024, secures $5.5 million in funding to expand its on-demand home service app. Learn how Snabbit aims to revolutionize the home services industry with rapid service and benefits for service professionals.
Snabbit Raises $5.5M Led by Elevation Capital for Quick-Service Home App
Snabbit, a burgeoning quick-service app based in Mumbai, has successfully raised $5.5 million in Series A funding led by Elevation Capital. Other participants include Nexus Venture Partners and notable angel investors like Vidit Aatrey, Sanjeev Barnwal, Gaurav Munjal, and Niraj Singh. This funding marks a significant step for the startup, which previously secured $1 million in seed funding from Nexus Venture Partners in early 2024.
Founded by Aayush Agarwal, formerly chief of staff at Zepto, Snabbit specializes in connecting households with on-demand home service professionals. Services offered include cleaning, dishwashing, and laundry, with a promise of professionals arriving within 15 minutes of booking. The startup adopts a full-stack approach, managing everything from sourcing to training and ensuring its workforce receives steady income and benefits such as health and accident insurance. This model aims to consolidate and empower a traditionally fragmented workforce.
Currently operational in select neighborhoods of Mumbai, Snabbit plans to utilize the new capital to expand its geographical footprint and bolster its operational capabilities. Agarwal highlights the startup’s rapid customer acquisition through organic channels, underscoring India’s untapped potential for high-frequency home services.
Investors have expressed confidence in Snabbit’s unique proposition within the home services sector. Manish Advani, Vice President at Elevation Capital, praised Snabbit’s platform for its swift, reliable, and affordable home services, noting its potential to transform everyday convenience across India. Suvir Sujan, Managing Director at Nexus Venture Partners, lauded Snabbit’s disruptive approach in dense residential clusters, emphasizing benefits for both consumers and service providers alike.
With ambitious plans for pan-India expansion, Snabbit aims to innovate and lead in a burgeoning market segment poised for significant growth and innovation.
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Last Updated on: Thursday, January 23, 2025 12:18 pm by Business Byte Team | Published by: Business Byte Team on Thursday, January 23, 2025 12:12 am | News Categories: Business
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