India’s urge for food for fast comfort — as soon as confined to meals and grocery supply — is increasing into home assist. That shift has helped Snabbit, an on-demand home-help startup, safe $30 million in new funding and carry its valuation to $180 million, up from $80 million 5 months in the past.
The all-equity Sequence C spherical — Snabbit’s third fundraise in 9 months — was led by Bertelsmann India Investments, with participation from present backers Lightspeed, Elevation Capital, and Nexus Enterprise Companions. The newest infusion brings the startup’s whole funding to $55 million.
Snabbit’s contemporary funding follows a pointy rise in exercise, with the Bengaluru-based startup rising from about 1,000 jobs a day in Might to greater than 10,000 day by day bookings. The corporate crossed 300,000 whole orders in October, founder and CEO Aayush Agarwal mentioned in an interview with TechCrunch.
Based in 2024, Snabbit presents a spread of on-demand dwelling companies for city households, together with cleansing, dishwashing, laundry, and kitchen prep via a 100% women-led fleet of 5,000 specialists. The startup operates via a hyperlocal community of educated employees stationed round dense residential clusters, promising service inside 10 minutes.
At the moment, Snabbit serves 40 micro markets throughout 5 main cities, specifically Mumbai, Bengaluru, Gurugram, Noida, and Pune. It plans to increase its presence in these cities and enter Hyderabad, Chennai, Delhi, and Calcutta very quickly, Agarwal informed TechCrunch.
Snabbit has served greater than 300,000 prospects, up from 25,000 in Might, and expects so as to add one other 100,000 as early as subsequent month. Most of its customers are between 30 and 40 years previous, together with bachelors and dealing professionals.
A few of Snabbit’s prospects are those that don’t need full-time home assist however choose an advert hoc resolution. “We’re principally taking inefficiency within the mannequin and plugging that, quite than saying, ‘Hey, this was taking place offline, and now we’ll do it on-line’,” mentioned Agarwal.
The startup reviews a 30–35% retention charge and tasks to succeed in annual recurring income of $11 million this month. Furthermore, it has a buyer acquisition value of “nicely under” ₹500 (roughly $6), Agarwal informed TechCrunch.
Snabbit’s companies are priced at round ₹150 (about $2) per hour, with a median ticket dimension of round ₹240 (roughly $3).
Staff on the platform earn between ₹25,000–₹30,000 (roughly $284–$340) a month, relying on the hours they work. The startup has additionally decreased the typical strolling distance for its employees between two jobs from 300 meters to 250 meters, giving them extra time to serve prospects.
Snabbit isn’t alone within the race to supply fast, on-demand dwelling companies in India. City Firm pioneered the pattern and was later adopted by startups akin to Broomees and Pronto. City Firm now plans to double down on instantaneous dwelling companies to remain forward of rising competitors, although Snabbit says it doesn’t see that as a problem.
“In a hyper-local enterprise, you don’t win pan India, you don’t win cities, you win micro markets. And in the present day, out of the micro markets the place we each [Snabbit and Urban Company] are current, Snabbit is main in additional micro markets as a result of we’ve taken a really optimistic technique to construct depth versus construct breadth,” Agarwal mentioned.
The brand new funding will assist Snabbit strengthen its presence and increase into high-frequency classes akin to cooking, little one care, and aged care.
