snabitAn Indian on-demand home services startup has closed a $56 million funding round, TechCrunch confirms. earlier report.
The company’s Series D round, co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund and Bertelsmann India Investments, valued the Bengaluru-based startup at about $350 million, according to a person familiar with the matter. he is from above $180 million About six months ago. Existing investors Nexus Venture Partners and Lightspeed also participated along with FJ Labs. The company has raised about $112 million in total.
Founded in 2024, Snabit said it is now processing more than 40,000 jobs daily across a network of more than 15,000 workers across five cities, providing services like cleaning, dishwashing and laundry as demand for fast, on-demand home services grows in urban India.
The startup said the amount it loses on each order has dropped by about 50%, while its customer acquisition costs have dropped by about 65%.
Snabit’s fund raising comes at a time when there is increased investor interest in India’s on-demand home services sector along with rival Pronto. Talks are also going on to raise new capital And publicly traded Urban Company is reporting more than one million monthly bookings.
